FX RATES AND USDINR FWDS :
Major developments:
USD is now at 83.08. USDINR opened at 83.10. Fwd premia – 1 year fwd premia is at 1.80% p.a.
-US employment beat expectations. US added 216 k jobs and unemployment rate was at 3.7% and average hourly earnings climbed 0.4% m/m.
-Indian CPI, IIP and US CPI are key events for the week.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 5-Jan-24 | 83.17 | 105.35 | 90.88 | 57.26 |
-USDINR is at 83.08.Prior day’s close was 83.15.
-Indian Equity indices is flat.
-Indian 10 year G-SEC yield is at 7.21%.
-USDINR 1 yr fwd premia is at 1.80%.
USDINR @ 83.08, EUR/USD@ 1.0933, GBP/USD @ 1.2702, USD/JPY @ 144.45, EUR/INR @ 90.76, GBP/INR @ 105.55 JPY/INR @ 57.53. Gold@2036, Brent Crude @ 78, Nifty @ 21718(+8), 10 Year G-SEC @ 7.21%.
Hedging:
USDINR payables can be hedged on dips to 83.03/82.92 .
USD EXPORTS can be hedged at 83.35/83.40.
Eur receivables can be hedged now .
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