• By Goodwill
  • 3 Comments
  • November 9, 2023

FX RATES AND USDINR FWDS :

Major developments:

USD is now at 83.25. USDINR opened at 83.24. Fwd premia – 1 year fwd premia is at 1.52% p.a
 
-USDINR fwd premia declines further with 1 year at 1.52%.
 
-Focus is on ECB and Fed Chief’s speeches.
 
-Oil prices decline further as China slips into deflation.
RBI rates
 
Trade Date  1 USD 1 GBP 1 EUR 100 YEN
8-Nov-23 83.27 102.22 88.98 55.26
-USDINR is at 83.25.Prior day’s close was 83.28.
-Indian Equity indices decline marginally.
-Indian 10 year G-SEC yield is at 7.25%.
-USDINR 1 yr fwd premia is at 1.52%.
USDINR @ 83.25, EUR/USD@ 1.0709, GBP/USD @ 1.2286, USD/JPY @ 150.91, EUR/INR @ 89.17, GBP/INR @ 102.29, JPY/INR @ 55.17. Gold@1949, Brent Crude @ 79.70, Nifty @ 19440(-2), 10 Year G-SEC @ 7.25%.
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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