• By Goodwill
  • 1,737 Comments
  • August 29, 2023

FX RATES AND USDINR FWDS :

Major developments:

USD is now at 82.63. USDINR opened at 82.62. Fwd premia – 1 year fwd premia is at 1.63% p.a
 
-Indian GDP is expected to be released on Aug 31. GDP may have climbed 7.5% in Q1 on y/y basis.
 
-US NFP, Core PCE index are other key data events for the week.
 
USDINR View: USDINR has supports at 82.35/82.25. Resistance is now at 82.70/82.86. USDINR could trade in the 82.50-83 range this week.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EUR 100 YEN
28-Aug-23 82.61 104.15 89.36 56.45
-USDINR is at 82.63.Prior day’s close was 82.62.
-Indian Equity indices climb marginally.
-Indian 10 year G-SEC yield is at 7.17%.
-USDINR 1 yr fwd premia is at 1.63%.
USDINR @ 82.63, EUR/USD@ 1.0824, GBP/USD @ 1.2623, USD/JPY @ 146.50, EUR/INR @ 89.45, GBP/INR @ 104.30, JPY/INR @ 56.41.
Gold@1951, Brent Crude @ 84, Nifty @ 19331(+25), 10 Year G-SEC @ 7.17%.
Hedging:
USDINR payables can be hedged at 82.50. Eur receivables can be hedged closer to 90.10+.
GBPINR receivables can be hedged closer to 105.
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