FX RATES AND USDINR FORWARDS
Major developments:
USD is now at 83.90. USDINR opened at 83.89. Fwd premia – 1 year fwd
premia is at 2.27% p.a.
Fed and BOE meeting are the focus events for the week.
Fed is expected to cut rates by 25 bps. That is a certainty.
Possibility of 50 bps rate cut also exists.
RBI rates
-USDINR is at 83.90.Prior day’s close was 83.92.
-Indian Equity indices trade flat
-Indian 10 year G-SEC yield is at 6.90%.
-USDINR 1 yr fwd premia is at 2.27%.
USDINR @ 83.90, EUR/USD@ 1.1099, GBP/USD @ 1.3157, USD/JPY @ 140.16, EUR/INR @ 93.12,
GBP/INR @ 110.38, JPY/INR @ 59.85.
Gold@2586, Brent Crude @ 71.75, Nifty @ 25364(+3), 10 Year G-SEC @ 6.90%.
Hedging: USDINR receivables can be hedged at 84.20/84.30. Payables can be covered on dips to 83.75/83.65.
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