Can I take a hedging to INR EURO directly and without being affected by USD?
The intention is to avoid the volatility of the relationship between USD and Euro-INR & R
Why not? But you can not speculate or trade in Forex. If you are in the import and / or businesses export, and the accounts are prepared in you in euro, or you draw buyers to their accounts in euros, credit facilities as day 60/90 D / A, etc., you can cover the value of INR, regardless of currency fluctuations. Your bankers may be at risk of fluctuation itself or pass it to the RBI.
May 26, 2009 Weekly Forex Outlook
