• By Goodwill
  • 4 Comments
  • April 5, 2024

FX RATES AND USDINR FWDS :

Major developments:

USD is now at 83.43. USDINR opened at 83.43. Fwd premia – 1 year fwd premia is at 1.63% p.a.
 
-RBI maintains status quo. Repo rate unchanged at 6.5%.
 
-Inflation is expected to average 4.5% and GDP is expected to be 7% in this financial year.
 
-US employment data is important event for the day.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
4-Apr-24 83.45 105.6 90.49 55.02
 
-USDINR is at 83.43.Prior day’s close was 83.40.
 
-Indian Equity indices decline marginally..
 
-Indian 10 year G-SEC yield is at 7.12%.
 
-USDINR 1 yr fwd premia is at 1.63%.
 
USDINR @ 83.43, EUR/USD@ 1.0826, GBP/USD @ 1.2626, USD/JPY @ 151.25, EUR/INR @ 90.32, GBP/INR @ 105.32, JPY/INR @ 55.16. Gold@2279, Brent Crude @ 91, Nifty @ 22466(-47), 10 Year G-SEC @ 7.12%.
 
Hedging:
USDINR payables be hedged on decline to 83.27. 
Eur receivables can be hedged GBPINR receivables can be hedged now.
 
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