FX RATES AND USDINR FWDS :
Major developments:
USD is now at 83.39. USDINR opened at 83.375. Fwd premia – 1 year fwd premia is at 1.63% p.a.
-Indian CPI climbed to 5.55% and IIP grew by 11.7%. Mfrg grew by 10.4%.
-US Fed meeting, ECB and BOE rate decisions are crucial events for the week.
-US CPI climbed 0.1% m/m and Core CPI climbed 0.3% m/m, as expected.
USDINR outlook: RBI has been selling USD at higher levels, but accepting modest decline. USD INR pair closed at 83.38 in Nov as against 83.26 in Oct. FII’S have been net buyers in both Equity and debt segments in this Year. RBI could keep Rupee in the 83.25-83.45 range for some more weeks.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 12-Dec-23 | 83.38 | 104.86 | 89.8 | 57.34 |
-USDINR is at 83.39.Prior day’s close was 83.38.
-Indian Equity indices decline.
-Indian 10 year G-SEC yield is at 7.27%.
-USDINR 1 yr fwd premia is at 1.63%.
USDINR @ 83.39, EUR/USD@ 1.0782, GBP/USD @ 1.2553, USD/JPY @ 145.70, EUR/INR @ 89.93, GBP/INR @ 104.68, JPY/INR @ 57.23. Gold@1976, Brent Crude @ 73, Nifty @ 20792(-114), 10 Year G-SEC @ 7.27%.
Hedging:
USDINR payables can be hedged on dips to 83.24/83.18.
Eur receivables can be hedged now.
GBPINR receivables can be hedged now.
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