FX RATES AND USDINR FWDS :
Major developments:
USD is now at 83.74. USDINR opened at 83.74. Fwd premia – 1 year fwd premia is at 1.88% p.a.
-BOE cut rates by 25 bps, but did not commit to further loosening of policy.
-Yen gained and shook Asian markets after BOJ Governor’s statement on future rate hikes.
-US non farm payrolls is a key data event for the day.
RBI rates
Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
1-Aug-24 | 83.73 | 107.46 | 90.61 | 55.87 |
-USDINR is at 83.74.Prior day’s close was 83.74.
-Indian Equity indices decline.
-Indian 10 year G-SEC yield is at 7.02%.
-USDINR 1 yr fwd premia is at 1.88%.
USDINR @ 83.74, EUR/USD@ 1.08, GBP/USD @ 1.2729, USD/JPY @ 149.17, EUR/INR @ 90.43, GBP/INR @ 106.59, JPY/INR @ 56.13. Gold@2461, Brent Crude @ 80, Nifty @ 24806(-203), 10 Year G-SEC @ 7.02%.
Hedging: USDINR receivables can be hedged.
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