{"id":4260,"date":"2023-10-04T11:28:22","date_gmt":"2023-10-04T05:58:22","guid":{"rendered":"https:\/\/gwcindia.in\/blog\/\/?p=4260"},"modified":"2024-09-02T18:08:05","modified_gmt":"2024-09-02T12:38:05","slug":"fx-rates-usdinr-forward-rate-october-04-2023","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/fx-rates-usdinr-forward-rate-october-04-2023\/","title":{"rendered":"FX RATES AND USDINR FWDS :"},"content":{"rendered":"

FX Rates and USD INR Forward Rate October 04, 2023<\/h1>\r\n

Major developments:<\/b><\/h3>\r\n
USD is now at 83.20. USDINR opened at 83.23. Fwd\u00a0<\/span><\/span><\/b>premia –\u00a0<\/span><\/span><\/b>1\u00a0year\u00a0fw<\/strong>d <\/b><\/span><\/span>premia is at 1.83% p.a<\/b><\/span><\/span>.\u00a0<\/span><\/b><\/div>\r\n
\u00a0<\/span><\/b><\/div>\r\n
-Rupee’s decline is capped even as USD is resilient against majors.<\/span><\/b><\/div>\r\n
\u00a0<\/span><\/b><\/div>\r\n
-RBI’S policy statement is to be released on Oct 6 th. RBI is likely to keep rates unchanged.<\/span><\/b><\/div>\r\n
\u00a0<\/span><\/b><\/div>\r\n
-Indian PMI(mfrg) data remained robust at 57.5 for Sept.<\/span><\/b><\/div>\r\n
\u00a0<\/span><\/b><\/div>\r\n
-US Nonfarm payrolls and ISM(services) data are key events from US.<\/b><\/span><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-USD gained further against majors as US Yields surged, following better than expected mfrg <\/b>data. US 10 Year yield is now at 4.84%.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-US Equity market declined on Yield rise.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
USDINR View: RBI’S intervention keeps Rupee away from significant <\/b>decline. <\/b>On the\u00a0<\/span><\/b>downside, USDINR may\u00a0<\/span><\/b>have strong support at 83\/82.80. <\/span><\/b>Rupee’s Monthly range (hi\/lo) is the\u00a0<\/span><\/b>lowest in last 15 months. It shows how volatility is being\u00a0<\/span><\/b>controlled by RBI. Implied volatility\u00a0<\/span><\/b>is below 3% p.a. now. It used to average 5% and spike to 8% during Rupee weakness. Expect 83-83.70 range for USDINR in Oct.<\/span><\/b><\/div>\r\n
\u00a0<\/div>\r\n
RBI rates<\/span><\/b><\/div>\r\n
\u00a0<\/span><\/b><\/div>\r\n
\r\n\r\n\r\n\r\n\r\n
Trade Date\u00a0<\/strong><\/td>\r\n1 USD<\/strong><\/td>\r\n1 GBP<\/strong><\/td>\r\n1 EUR<\/strong><\/td>\r\n100 YEN<\/strong><\/td>\r\n<\/tr>\r\n
3-Oct-23<\/strong><\/td>\r\n83.18<\/strong><\/td>\r\n100.4<\/strong><\/td>\r\n87.07<\/strong><\/td>\r\n55.5<\/strong><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/b><\/div>\r\n
\u00a0<\/div>\r\n
-USDINR is at 83.24.Prior day’s close was 83.19.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
-Indian Equity indices decline.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
-Indian 10 year G-SEC yield is at 7.25%.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
-USDINR 1 yr fwd premia is at 1.83%.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
USDINR @ 83.24,<\/b>\u00a0EUR\/USD@ 1.0469, GBP\/USD @ 1.2081, USD\/JPY @ 149.18<\/b>, EUR\/INR @ 87.16, <\/b>GBP\/INR @ 100.55,\u00a0<\/b>JPY\/INR @ 55.79.<\/b><\/div>\r\n
Gold@1822, Brent Crude @ 91, Nifty @ 19421(-107), 10 Year G-SEC @ 7.25%.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
Hedging: <\/b><\/div>\r\n
USDINR payables can be hedged at 83.<\/b>\u00a0Eur receivables can be hedged on rally to 88\/88.70. <\/b><\/div>\r\n
GBPINR <\/b>receivables can be hedged closer to <\/b>102.40\/103.75.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
\r\n
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FX Rates and USD INR Forward Rate October 04, 2023 Major developments: USD is now at 83.20. USDINR opened at 83.23. Fwd\u00a0premia –\u00a01\u00a0year\u00a0fwd premia is at 1.83% p.a.\u00a0 \u00a0 -Rupee’s decline is capped even as USD is resilient against majors. \u00a0 -RBI’S policy statement is to be released on Oct 6 th. RBI is likely […]<\/p>\n","protected":false},"author":6,"featured_media":3155,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-4260","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-currency-update","post_format-post-format-image"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/4260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/comments?post=4260"}],"version-history":[{"count":3,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/4260\/revisions"}],"predecessor-version":[{"id":9393,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/4260\/revisions\/9393"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media\/3155"}],"wp:attachment":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media?parent=4260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/categories?post=4260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/tags?post=4260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}