FX RATES AND USDINR FWDS :
Major developments:
USD is now at 83.35. USDINR opened at 83.32. Fwd premia – 1 year fwd premia is at 1.57% p.a.
-Indian Current account deficit for Oct-Dec quarter was at USD 10.5 bn, 1.2% of GDP vs USD 16.8 bn during the same period last year.
-Trade deficit stood at USD 71.6 bn in Q3 vs USD 71.3 bn in Q3 of 22-23 FY.
-Net FDI inflows slowed to USD 8.5 bn in Apr-Dec 2023 vs USD 21.6 bn during Apr-Dec 2022.
-FPI inflows stood at USD 12 bn in Oct-Dec vs USD 4.6 bn during the same period last year.
-US Core PCE index is the key event for the week.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 26-Mar-24 | 83.35 | 105.45 | 90.43 | 55.08 |
-USDINR is at 83.35.Prior day’s close was 83.31.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.09%.
-USDINR 1 yr fwd premia is at 1.57.%.
USDINR @ 83.35, EUR/USD@ 1.0829, GBP/USD @ 1.2618, USD/JPY @ 151.63, EUR/INR @ 90.25, GBP/INR @ 105.15, JPY/INR @ 54.96. Gold@2178, Brent Crude @ 85, Nifty @ 22150(+144), 10 Year G-SEC @ 7.08%.
Hedging:
USDINR receivables can be hedged .
Eur receivables can be hedged . GBPINR receivables ca
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