FX RATES AND USDINR FWDS :
Major developments:
USD is now at 83.97. USDINR opened at 83.94. Fwd premia – 1 year fwd premia is at 2.25% p.a.
-ECB cut rates by 25 bps.
-Indian CPI climbed marginally to 3.65% in Aug and IIP climbed 4.83% in July.
-Indian 10 Year G-SEC yield declined to 6.91.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 12-Sep-24 | 83.98 | 109.61 | 92.55 | 58.88 |
-USDINR is at 83.93.Prior day’s close was 83.97.
-Indian Equity indices decline marginally.
-Indian 10 year G-SEC yield is at 6.91%.
-USDINR 1 yr fwd premia is at 2.25%.
USDINR @ 83.93, EUR/USD@ 1.1084, GBP/USD @ 1.3147, USD/JPY @ 141.09, EUR/INR @ 93.02, GBP/INR @ 110.34, JPY/INR @ 59.48. Gold@2569, Brent Crude @ 72.50, Nifty @ 25346(-26), 10 Year G-SEC @ 6.91%.
Hedging:
USDINR receivables can be hedged at 84.20/84.30.
Payables can be covered on dips to 83.75/83.65.
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