FX RATES AND USDINR FORWARDS :
Major developments:
USD is now at 83.93. USDINR opened at 83.90. Fwd premia – 1 year fwd premia is at 2.39% p.a.
-Euro is down on weak economic data from Europe. This has increased expectations of larger rate cuts by ECB also.
-Fed Minutes, ISM(services) and US NFP are important data events for the week.
RBI rates
Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
1-Oct-24 | 83.81 | 112.05 | 93.31 | 58.04 |
-USDINR is at 83.93.Prior day’s close was 83.83.
-Indian Equity indices decline.
-Indian 10 year G-SEC yield is at 6.86%.
-USDINR 1 yr fwd premia is at 2.39%.
USDINR @ 83.93, EUR/USD@ 1.1027, GBP/USD @ 1.3185, USD/JPY @ 146.66, EUR/INR @ 92.56, GBP/INR @ 110.66, JPY/INR @ 57.23. Gold@2654, Brent Crude @ 75, Nifty @ 25443(-353), 10 Year G-SEC @ 6.86%.
Hedging:
USDINR receivables can be hedged at 84 and later at 84.25.
Payables can be covered on dips to 83.72/83.63.
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