{"id":5004,"date":"2023-12-15T11:10:56","date_gmt":"2023-12-15T05:40:56","guid":{"rendered":"https:\/\/gwcindia.in\/blog\/\/?p=5004"},"modified":"2024-08-31T15:25:20","modified_gmt":"2024-08-31T09:55:20","slug":"fx-rates-usdinr-forward-rate-december-15-2023","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/fx-rates-usdinr-forward-rate-december-15-2023\/","title":{"rendered":"FX RATES AND USDINR FWDS :"},"content":{"rendered":"
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FX Rates and USD INR Forward Rate December 15, 2023<\/h1>\r\n

Major developments:<\/b><\/h4>\r\n
USD is now at 83.32. 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 1.68% p.a<\/b><\/span><\/span>.\u00a0<\/span><\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-ECB and BOE signaled that rate cuts is still not in the realm of discussion.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-3 BOE members even voted for rate hike.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-ECB and BOE stances are in contrast to Fed’s stance. Fed did not push back against rate <\/b>cuts and even signaled three rate cuts next year.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-US retail sales remained strong.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
-US 10 Year yields declined further to 3.95%, aiding Global Equity surge.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
USDINR outlook: USDINR is kept range bound by RBI. Three positives for Rupee are\u00a0<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
1) US rate may have peaked, 2) Crude has declined below USD 75, 3) Robust FII inflows. FII <\/b>inflows have invested Rs 1.4 lac in this calendar year.<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
Negatives: 1) Possibility of Yuan decline and hence Asian FX could fall due to Chinese <\/b>economic worries.\u00a0<\/b><\/div>\r\n
Considering next year election, <\/b>RBI may not allow Rupee to create headlines and increase <\/b>inflation due to fall. Hence, expect RBI to be active on both sides. However, due to the first <\/b>three reasons, threat for bigger Rupee fall seems to have receded significantly. With major <\/b>central banks differing with Fed on rate stance, USD weakness could continue till they signal <\/b>rate cuts. This is also positive for Rupee. <\/b><\/div>\r\n
\u00a0<\/div>\r\n
The only major worry is USD\/CNY movement. If Yuan declines due to Chinese economic <\/b>issues, Asian Currencies could decline. <\/b>Based on the above expectations, Exporters can hedge at around 83.40 and importers can <\/b>hedge in the 83.05-83.25 zone. <\/b>Fwd premia is expected to climb higher as US Yields retrace more than Indian Yields.\u00a0<\/b><\/div>\r\n
\u00a0<\/b><\/div>\r\n
RBI rates<\/span><\/b><\/div>\r\n
<\/span><\/b><\/b>\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
14-Dec-23<\/strong><\/td>\r\n83.35<\/strong><\/td>\r\n105.35<\/strong><\/td>\r\n90.86<\/strong><\/td>\r\n58.82<\/strong><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n <\/b><\/div>\r\n
\u00a0<\/div>\r\n
-USDINR is at 83.32.Prior day’s close was 83.31.<\/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 7.19%.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
-USDINR 1 yr fwd premia is at 1.68%.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
USDINR @ 83.32,<\/b>\u00a0EUR\/USD@ 1.1001, GBP\/USD @ 1.2772, USD\/JPY @ 141.62<\/b>, EUR\/INR @ 91.65,\u00a0<\/b>GBP\/INR @ 106.42,\u00a0<\/b>JPY\/INR @ 58.82. <\/b>Gold@2037, Brent Crude @ 77, Nifty @ 21337(+155), 10 Year G-SEC @ 7.19%.<\/b><\/div>\r\n
\u00a0<\/div>\r\n
Hedging: <\/b><\/div>\r\n
USDINR payables can be hedged on dips to 83.24\/83.18 .<\/b>\u00a0<\/b><\/div>\r\n
Eur receivables can be hedged <\/b>now\u00a0<\/b>.\u00a0<\/b><\/div>\r\n
GBPINR<\/b>\u00a0receivables\u00a0<\/b>can be hedged now.<\/b><\/div>\r\n<\/div>\r\n
\u00a0<\/div>\r\n
Click to open an Account<\/strong>\u00a0:\u00a0https:\/\/ekyc.gwcindia.in\/client\/<\/a><\/div>\r\n
For all your investment needs feel free to reach us.<\/strong>\r\n
\r\n
\r\n\r\nGive us Missed Call us on 90037 90027 . For Support : 044-40329999<\/strong><\/div>\r\n<\/div>\r\n<\/div>","protected":false},"excerpt":{"rendered":"

FX Rates and USD INR Forward Rate December 15, 2023 Major developments: USD is now at 83.32. USDINR opened at 83.31. Fwd\u00a0premia –\u00a01\u00a0year\u00a0fwd premia is at 1.68% p.a.\u00a0 \u00a0 -ECB and BOE signaled that rate cuts is still not in the realm of discussion. \u00a0 -3 BOE members even voted for rate hike. \u00a0 -ECB […]<\/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-5004","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\/5004","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=5004"}],"version-history":[{"count":3,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/5004\/revisions"}],"predecessor-version":[{"id":8786,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/5004\/revisions\/8786"}],"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=5004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/categories?post=5004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/tags?post=5004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}