• By Goodwill
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  • August 2, 2024

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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