• By Goodwill
  • 8 Comments
  • November 6, 2023

FX RATES AND USDINR FWDS :

Major developments:

USD is now at 83.19. USDINR opened at 83.15. Fwd premia – 1 year fwd premia is at 1.65% p.a
 
-Indian Equity indices have opened gap up, taking cues from Overseas markets.
 
-US employment data was below consensus at 150k with wage growth below expectation.
 
-Decline in US Yields trigger upsurge in Global equities. 
RBI rates
 
Trade Date  1 USD 1 GBP 1 EUR 100 YEN
3-Nov-23 83.27 101.62 88.52 55.4
-USDINR is at 83.21.Prior day’s close was 83.28.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.30%.
-USDINR 1 yr fwd premia is at 1.64%.
USDINR @ 83.21, EUR/USD@ 1.0737, GBP/USD @ 1.2378, USD/JPY @ 149.55, EUR/INR @ 89.33, GBP/INR @ 103.03, JPY/INR @ 55.63. Gold@1985, Brent Crude @ 85, Nifty @ 19336(+105), 10 Year G-SEC @ 7.30%.
 
Hedging:
USDINR payables can be hedged on dipes to 83.10 . Eur receivables can be hedged now and on rally 89.70/90.10. 
GBPINR receivables can be hedged closer to 103.50.
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