{"id":4380,"date":"2023-10-09T12:14:26","date_gmt":"2023-10-09T06:44:26","guid":{"rendered":"https:\/\/gwcindia.in\/blog\/\/?p=4380"},"modified":"2024-08-31T17:51:18","modified_gmt":"2024-08-31T12:21:18","slug":"fx-rates-usdinr-forward-rate-october-9-2023","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/fx-rates-usdinr-forward-rate-october-9-2023\/","title":{"rendered":"FX RATES AND USDINR FWDS :"},"content":{"rendered":"

FX Rates and USD INR Forward Rate October 9, 2023<\/h1>\r\n

Major developments:<\/b><\/h3>\r\n
\u00a0<\/div>\r\n
USD is now at 83.22. USDINR opened at 83.20. 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
-US NFP was stronger than expected (almost double the expectation)<\/span><\/b>.<\/span><\/b><\/div>\r\n
\u00a0<\/span><\/b><\/div>\r\n
-Israel- Hamas conflict aids Crude price rally.<\/span><\/b><\/div>\r\n
\u00a0<\/span><\/b><\/div>\r\n
-Indian 10 Year yield is at 7.35% as RBI has hinted at more bond sales to suck out liquidity.<\/span><\/b><\/div>\r\n
\u00a0<\/span><\/b><\/div>\r\n
-Indian CPI, IIP and US CPI are important data events for the week.<\/b><\/span><\/div>\r\n
\u00a0<\/b><\/div>\r\n
USDINR View: RBI’S intervention keeps Rupee away from a significant<\/b> decline.\u00a0<\/b>On the\u00a0<\/span><\/b>downside, USDINR may\u00a0<\/span><\/b>have strong support at 83\/82.80.\u00a0<\/span><\/b><\/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><\/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
6-Oct-23<\/strong><\/td>\r\n83.24<\/strong><\/td>\r\n101.29<\/strong><\/td>\r\n87.68<\/strong><\/td>\r\n55.88<\/strong><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n
\u00a0<\/div>\r\n
-USDINR is at 83.22.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 7.35%.<\/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 @ 83.22,<\/b>\u00a0EUR\/USD@ 1.0550, GBP\/USD @ 1.2195, USD\/JPY @ 149.19<\/b>, EUR\/INR @ 87.85,\u00a0<\/b>GBP\/INR @ 101.49,\u00a0<\/b>JPY\/INR @ 55.78.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
Gold@1850, Brent Crude @ 87.50, Nifty @ 19575(-78), 10 Year G-SEC @ 7.35%.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
Hedging:<\/b><\/div>\r\n
USDINR payables can be hedged at 83.<\/b> Eur receivables can be hedged on rally to 88\/88.70. <\/b><\/div>\r\n
GBPINR\u00a0<\/b>receivables can be hedged closer to <\/b>102.40\/103.75.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
\r\n
Click to open an Account<\/strong>\u00a0:\u00a0https:\/\/ekyc.gwcindia.in\/client\/<\/a><\/div>\r\n
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FX Rates and USD INR Forward Rate October 9, 2023 Major developments: \u00a0 USD is now at 83.22. USDINR opened at 83.20. Fwd\u00a0premia –\u00a01\u00a0year\u00a0fwd premia is at 1.83% p.a.\u00a0 \u00a0 -US NFP was stronger than expected (almost double the expectation). \u00a0 -Israel- Hamas conflict aids Crude price rally. \u00a0 -Indian 10 Year yield is at […]<\/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-4380","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\/4380","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=4380"}],"version-history":[{"count":2,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/4380\/revisions"}],"predecessor-version":[{"id":9067,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/4380\/revisions\/9067"}],"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=4380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/categories?post=4380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/tags?post=4380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}