FX RATES AND USDINR FWDS :
Major developments:
USD is now at 83.38. USDINR opened at 83.28. Fwd premia – 1 year fwd premia is at 1.58% p.a.
-Swiss Central bank cut rates by 25 bps in a surprise move, sending flows into USD.
-BOE maintained rates and offered no clear future guidance.
-Rupee weakened to 83.40 on cash Dollar shortage, fiscal year payments, broad USD gains against majors and Yuan weakness.
-US is proposing to limit US MF’S investments in Chinese stocks
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 21-Mar-24 | 83.13 | 106.36 | 90.91 | 55.06 |
-USDINR is at 83.38.Prior day’s close was 83.12.
-Indian Equity indices recover.
-Indian 10 year G-SEC yield is at 7.07%.
-USDINR 1 yr fwd premia is at 1.61.%.
USDINR @ 83.38, EUR/USD@ 1.0835, GBP/USD @ 1.2643, USD/JPY @ 151.57, EUR/INR @ 90.36, GBP/INR @ 105.44, JPY/INR @ 55.01. Gold@2174, Brent Crude @ 85.20, Nifty @ 22042(+31), 10 Year G-SEC @ 7.07%.
Hedging:
USDINR receivables can be hedged .
Eur receivables can be hedged . GBPINR receivables ca
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