FX RATES AND USDINR FWDS :
Major developments:
USD is now at 82.75. USDINR opened at 82.74. Fwd premia – 1 year fwd premia is at 1.64% p.a.
-US employment report showed that the economy added 187 k jobs in Aug and prior months job additions were trimmed by 110k. Unemployment rate climbed to 3.8% and hourly earnings rose less than expected by 0.2%.
-US D gained despite below expected earnings data.
-US CPI and PPI are key events for the week.
USDINR View: USDINR could trade in the 82.60-82.95 range this week and trade up to 83.30 this month.
RBI rates :
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 01-Sep-23 | 82.67 | 104.64 | 89.62 | 56.79 |
-USDINR is at 82.75.Prior day’s close was 82.72.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.17%.
-USDINR 1 yr fwd premia is at 1.63%.
USDINR @ 82.68, EUR/USD@ 1.0846, GBP/USD @ 1.2668, USD/JPY @ 145.51, EUR/INR @ 89.67, GBP/INR @ 104.73, JPY/INR @ 56.82.
Gold@1965, Brent Crude @ 87, Nifty @ 19312(+59), 10 Year G-SEC @ 7.17%.
Hedging:
USDINR payables can be hedged at 82.60. Eur receivables can be hedged.
GBPINR receivables can be hedged closer to 105.50/106.
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