Gaurav Garg

[Gaurav Garg @TechnicalFund]

@deepakshenoy It'd of course provide a temporary relief. Plus it would discourage at least domestic players from bulking up on speculative positioning. NDF - onshore spreads will simply blow up in short-term. Medium term it'd adversely impact NDF as well as onshore market making by local banks

[Gaurav Garg @TechnicalFund]

@deepakshenoy Sorry that was just an illustrative no. to demonstrate min cost (actual cost is higher due to implied USD funding cost involved). & Yes!- NDF arb is the intended nudge, to weaken one source of INR weakness.

[Gaurav Garg @TechnicalFund]

@deepakshenoy 2/n ...much higher levels. So USD/INR swaps can never be a reasonable source of INR funding requirements (unless that's the only source available based on a bank's balance-sheet).
Also, a net effective b/s swap at 2.5% actually translates to an INR funding cost of >6%...

[Gaurav Garg @TechnicalFund]

@deepakshenoy Sorry, you've overlooked the effect of USD funding cost in ur analysis...
Forward rates in USD/INR trade at a premium, i.e.- if USD-INR rates differential implies that forward premium should be, say, 1.5% (5.25%-3.75% for eg.), then in actual market- forwards trade at... 1/n

[Shivani Thakur @shivani1thakur]

@anandmahindra Sir, surprised by the customers are treated by the dealership! Clearly, no way customers are getting the service they deserve. Loved XUV700 so much so that we really stretched from our initial budget!! Booking: Feb 22 Allotment: April 23.