• By Goodwill
  • 1 Comment
  • September 26, 2023

FX RATES AND USDINR FWDS :

Major developments:

USD is now at 83.12. USDINR opened at 83.19. Fwd premia – 1 year fwd premia is at 1.81% p.a
 
-Rupee declined on month end demand to 83.24.
 
-Equity markets remain edgy.
 
-US GDP and Core PCE index are key events for the week.
USDINR View: RBI’S intervention keeps Rupee away from significant decline.
 
Expect 83.30/83.60 as possible levels for USDINR this month. On the downside, USDINR may have strong support at 82.80/82.65.
 
RBI rates
 
Trade Date  1 USD 1 GBP 1 EUR 100 YEN
25-Sep-23 83.1 101.7 88.45 56.01
-USDINR is at 83.21.Prior day’s close was 83.13.
-Indian Equity indices trade flat.
-Indian 10 year G-SEC yield is at 7.16%.
-USDINR 1 yr fwd premia is at 1.80%.
USDINR @ 83.21, EUR/USD@ 1.0585, GBP/USD @ 1.22, USD/JPY @ 148.92, EUR/INR @ 88.09, GBP/INR @ 101.52, JPY/INR @ 55.89.
Gold@1914, Brent Crude @ 91.55., Nifty @ 19684(+10), 10 Year G-SEC @ 7.16%.
 
Hedging:
USDINR payables can be hedged at 82.80/82.65. Eur receivables can be hedged on rally to 89/89.50.
GBPINR receivables can be hedged closer to 103.50/104.50.
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