{"id":4840,"date":"2023-11-29T10:49:28","date_gmt":"2023-11-29T05:19:28","guid":{"rendered":"https:\/\/gwcindia.in\/blog\/\/?p=4840"},"modified":"2024-08-31T13:35:11","modified_gmt":"2024-08-31T08:05:11","slug":"fx-rates-usdinr-forward-rate-november-29-2023","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/fx-rates-usdinr-forward-rate-november-29-2023\/","title":{"rendered":"FX RATES AND USDINR FWDS :"},"content":{"rendered":"

FX Rates and USD INR Forward Rate November 29, 2023<\/h1>\r\n

Major developments:<\/b><\/h4>\r\n
USD is now at 83.29. USDINR opened at 83.31. Fwd\u00a0<\/span><\/span><\/b>premia –\u00a0<\/span><\/span><\/b>1\u00a0year\u00a0fw<\/strong>d <\/b><\/span><\/span>premia is at 1.55% p.a<\/b><\/span><\/span>.\u00a0<\/span><\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-Indian GDP is to be released on Nov 30 th. Q2 GDP is expected to have climbed by 6.8%.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-S&P raised Indian FY 24 GDP growth to 6.4% from 6%.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-Rupee gained from 83.40 to 83.29.\u00a0<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-US PCE, ISM and spending data will dominate the narrative regarding future rate path.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-OPEC is meeting this week after last week meeting was deferred. Saudi Arabia may insist on <\/b>extending voluntary supply cut to be extended.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-EU inflation data is another important release.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
USDINR outlook: RBI has been selling USD at higher levels, but accepting modest decline.\u00a0<\/b>On\u00a0<\/b>Oct\u00a0<\/b>end USDINR was at 83.26. If Rupee closes below 83.40, it confirms the view that RBI is <\/b>tolerant to Rupee decline aligned with fwd curve plus few ps. Dollar buying demand is\u00a0<\/b>evident\u00a0<\/b>as premia is insignificant for near term. FII’S have been net buyers in both Equity and <\/b>debt segments in Nov. Rupee can gain modestly if FII inflows surface due to MSCI\u00a0<\/b>rebalancing. RBI\u00a0<\/b>could keep Rupee in the 83.25-83.45 range for some more weeks.<\/b><\/div>\r\n
\u00a0<\/span><\/b><\/div>\r\n
RBI rates<\/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
28-Nov-23<\/strong><\/td>\r\n83.39<\/strong><\/td>\r\n105.3<\/strong><\/td>\r\n91.31<\/strong><\/td>\r\n56.24<\/strong><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n
\u00a0<\/span><\/b><\/div>\r\n
-USDINR is at 83.29.Prior day’s close was 83.33.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
-Indian Equity indices climb.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
-Indian 10 year G-SEC yield is at 7.24%.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
-USDINR 1 yr fwd premia is at 1.55%.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
USDINR @ 83.29,<\/b>\u00a0EUR\/USD@ 1.1001, GBP\/USD @ 1.2709, USD\/JPY @ 147.19<\/b>, EUR\/INR @ 91.63,\u00a0<\/b>GBP\/INR @ 105.86,\u00a0<\/b>JPY\/INR @ 56.59 <\/b>Gold@2043, Brent Crude @ 81.45, Nifty @ 20008(+120), 10 Year G-SEC @ 7.24%.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
Hedging: <\/b><\/div>\r\n
USDINR payables can be hedged on dips to 83.25 .<\/b>\u00a0Eur receivables can be hedged now\u00a0<\/b>.\u00a0<\/b>GBPINR<\/b>\u00a0receivables\u00a0<\/b>can be hedged now.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
\r\n
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FX Rates and USD INR Forward Rate November 29, 2023 Major developments: USD is now at 83.29. USDINR opened at 83.31. Fwd\u00a0premia –\u00a01\u00a0year\u00a0fwd premia is at 1.55% p.a.\u00a0 \u00a0 -Indian GDP is to be released on Nov 30 th. Q2 GDP is expected to have climbed by 6.8%. \u00a0 -S&P raised Indian FY 24 GDP […]<\/p>\n","protected":false},"author":6,"featured_media":4769,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-4840","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\/4840","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=4840"}],"version-history":[{"count":3,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/4840\/revisions"}],"predecessor-version":[{"id":8656,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/4840\/revisions\/8656"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media\/4769"}],"wp:attachment":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media?parent=4840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/categories?post=4840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/tags?post=4840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}