• By Goodwill
  • 1 Comment
  • March 22, 2024

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 can be hedged now.
 
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