FX RATES AND USDINR FORWARDS :
Major developments:
USD is now at 83.67. USDINR opened at 83.69. Fwd premia – 1 year fwd premia is at 2.28% p.a.
-Fed cuts rates by 50 bps and indicates more rate cuts this and next year.
-Fed Chairman rules out recession scenario and said that economy is robust and inflation is cooling.
-BOE meeting is the event for the day.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 17-Sep-24 | 83.83 | 110.75 | 93.29 | 59.63 |
-USDINR is at 83.67.Prior day’s close was 83.78.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 6.85%.
-USDINR 1 yr fwd premia is at 2.28%.
USDINR @ 83.67, EUR/USD@ 1.1129, GBP/USD @ 1.3220, USD/JPY @ 142.81, EUR/INR @ 93.11, GBP/INR @ 110.60, JPY/INR @ 58.58. Gold@2568, Brent Crude @ 73.75, Nifty @ 25519(+141), 10 Year G-SEC @ 6.85%.
Hedging:
USDINR receivables can be hedged at 83.90.
Payables can be covered on dips to 83.60/83.40.
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