• By Goodwill
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  • July 22, 2024

FX RATES AND USDINR FWDS :

Major developments:

USD is now at 83.67. USDINR opened at 83.65. Fwd premia – 1 year fwd premia is at 1.75% p.a.
-Economic survey says that GDP will grow by 6.5% to 7% this fiscal.
 
-Food inflation climbed to 7.5% in FY 24.
 
-Union Budget is the major event.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
19-Jul-24 83.64 108.16 91.06 53.01
-USDINR is at 83.67.Prior day’s close was 83.67.
-Indian Equity indices decline.
 
-Indian 10 year G-SEC yield is at 6.97%.
-USDINR 1 yr fwd premia is at 1.75%.
USDINR @ 83.67, EUR/USD@ 1.0890, GBP/USD @ 1.2928, USD/JPY @ 156.87, EUR/INR @ 91.11, GBP/INR @ 108.16, JPY/INR @ 53.33. Gold@2403, Brent Crude @ 83, Nifty @ 24516(-14), 10 Year G-SEC @ 6.97%.
 
Hedging:
USDINR receivables can be hedged at 83.65+.
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