FX RATES AND USDINR FWDS :
Major developments:
USD is now at 83.25. USDINR opened at 83.255. Fwd premia – 1 year fwd premia is at 1.74% p.a.
-US FOMC meeting and BOE rate decisions are important events for the week.
-US NFP is another important data release.
-RBI action in USD sales is stemming Rupee’s downward movement.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 27-Oct-23 | 83.25 | 100.91 | 87.89 | 55.42 |
-USDINR is at 83.25.Prior day’s close was 83.24.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.36%.
-USDINR 1 yr fwd premia is at 1.74%.
USDINR @ 83.25, EUR/USD@ 1.0558, GBP/USD @ 1.2109, USD/JPY @ 149.48, EUR/INR @ 87.87, GBP/INR @ 100.81, JPY/INR @ 55.70 Gold@1996, Brent Crude @ 88, Nifty @ 19122(+75), 10 Year G-SEC @ 7.36%.
Hedging:
USDINR payables can be hedged on dipes to 83.10 . Eur receivables can be hedged now and on rally 88.70.
GBPINR receivables can be hedged closer to 102.40/103.50.
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