• By Goodwill
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  • July 3, 2024

FX RATES AND USDINR FWDS :

Major developments:

USD is now at 83.52. USDINR opened at 83.51. Fwd premia – 1 year fwd premia is at 1.64% p.a.
 
-Focus is on US employment data.
 
-Indian Equity markets continue to climb in anticipation of important economic decisions in budget.
 
-Fed Chairman says that Fed actions have helped to put inflation on a declining mode, but wants to see sustainable progress around 2%.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
2-Jul-24 83.51 105.55 89.64 51.65
-USDINR is at 83.52.Prior day’s close was 83.52.
-Indian Equity indices climb.
 
-Indian 10 year G-SEC yield is at 7%.
-USDINR 1 yr fwd premia is at 1.64%.
USDINR @ 83.52, EUR/USD@ 1.0739, GBP/USD @ 1.2681, USD/JPY @ 161.80, EUR/INR @ 89.70, GBP/INR @ 105.89, JPY/INR @ 51.62. Gold@2334, Brent Crude @ 86.50, Nifty @ 24270(+147), 10 Year G-SEC @ 7%.
 
Hedging: USDINR receivables can be hedged at 83.60+.
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