• By Goodwill
  • 6 Comments
  • February 12, 2024

FX RATES AND USDINR FWDS :

Major developments:

USD is now at 83.01. USDINR opened at 83.02. Fwd premia – 1 year fwd premia is at 1.81% p.a.
 
-Indian CPI, IIP in focus this week.
 
-US CPI and retail sales are other important global data events for the week.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
9-Feb-24 83 104.71 89.4 55.55
 
-USDINR is at 83.Prior day’s close was 83.01.
 
-Indian Equity indices decline.
 
-Indian 10 year G-SEC yield is at 7.09%.
 
-USDINR 1 yr fwd premia is at 1.81.%.
 
USDINR @ 83.01, EUR/USD@ 1.0791, GBP/USD @ 1.2630, USD/JPY @ 149.22, EUR/INR @ 89.42, GBP/INR @ 104.83, JPY/INR @ 55.62. Gold@2023, Brent Crude @ 82, Nifty @ 21677(-105), 10 Year G-SEC @ 7.09%.
 
Hedging:
USDINR payables can be hedged at 82.92/82.85 . USD EXPORTS can be hedged at 83.35/83.40.
Eur payables can be hedged at 89.20/88.50 GBPINR receivables can be hedged now.
 
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Comments

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    February 26, 2024

    In a strategic move to diversify its investment portfolio, Reddit buys Bitcoin (BTC) and Ethereum (ETH). Reddit Buys Bitcoin: Famous Social Media Dives Deeper Into Crypto Investments Along with Jack Dorsey’s Block
    The company’s recent filing with the US Securities and Exchange Commission (SEC) highlighted its foray into cryptocurrencies, funded through the surplus cash reserves it amassed over the year. By the end of 2023, Reddit had successfully bolstered its cash holdings to $1.3 billion, part of which was allocated towards purchasing BTC and ETH. This decision places Reddit among a select group of corporations, including MicroStrategy and Tesla, that have chosen to invest directly in cryptocurrencies.

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