FX RATES AND USDINR FWDS :
Major developments:
USD is now at 83.87. USDINR opened at 83.83. Fwd premia – 1 year fwd premia is at 2% p.a.
-Rupee has clawed back to 83.85 from y’day’s low of 84.10.
-Global Equity markets are bouncing back on bargain buying.
-Fed member assuaged markets that Fed would work to prevent downturn in labor market.
-USDINR premia has climbed to 2%.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 5-Aug-24 | 83.84 | 106.71 | 91.44 | 58.82 |
-USDINR is at 83.87.Prior day’s close was 84.09.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 6.99%.
-USDINR 1 yr fwd premia is at 2%.
USDINR @ 83.87, EUR/USD@ 1.0953, GBP/USD @ 1.2776, USD/JPY @ 145.59, EUR/INR @ 91.87, GBP/INR @ 107.17, JPY/INR @ 57.61. Gold@2409, Brent Crude @ 77.25, Nifty @ 24206(+150), 10 Year G-SEC @ 6.99%.
Hedging:
USDINR receivables can be hedged at 84.10.
Payables can be covered on dips to 83.60.
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