• By Goodwill
  • No Comments
  • July 4, 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 1.62% p.a.
 
-US markets are closed today.
 
-Focus is on US employment data.
 
-Indian Equity markets continue to climb in anticipation of important economic decisions in budget.
 
-FOMC minutes revealed that there should be no hasty rate cuts and additional favorable data is required indicating sustainable progess in inflation moving towards 2%.
 
-Fed members expect economy to cool gradually.
 
-Euro inched higher as ECB indicated that it may not lower rates immediately.
 
-US ISM(services) data declined into contraction mode.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
3-Jul-24 83.53 105.96 89.72 51.62
 
-USDINR is at 83.52.Prior day’s close was 83.51.
 
-Indian Equity indices climb.
 
-Indian 10 year G-SEC yield is at 6.99%.
 
-USDINR 1 yr fwd premia is at 1.62%.
 
USDINR @ 83.52, EUR/USD@ 1.0789, GBP/USD @ 1.2745, USD/JPY @ 161.40, EUR/INR @ 90.10,GBP/INR @ 106.43, JPY/INR @ 51.75. Gold@2351, Brent Crude @ 87, Nifty @ 24333(+47), 10 Year G-SEC @ 6.99%.
 
Hedging:
USDINR receivables can be hedged at 83.60+.
 
Click to open an Account : https://ekyc.gwcindia.in/client/
For all your investment needs feel free to reach us.
Give us Missed Call us on 90037 90027 . For Support : 044-40329999