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FX Majors 23-Sep-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23
EUR / USD 1.1707 1.17 1.18 1.17 1.16 1.15 1.14 1.15
USD / JPY 109.81 109.00 110.00 110.00 111.00 111.00 112.00 114.00
USD / CHF 0.9265 0.93 0.93 0.93 0.92 0.91 0.90 0.90
GBP / USD 1.3637 1.37 1.39 1.39 1.40 1.42 1.42 1.43
AUD / USD 0.7236 0.72 0.83 0.73 0.73 0.73 0.73 0.74
NZD / USD 0.6999 0.71 0.71 0.71 0.73 0.73 0.73 0.74
USD / CAD 1.2762 1.26 1.25 1.25 1.24 1.24 1.23 1.23
EUR / GBP 0.8585 0.85 0.85 0.84 0.83 0.81 0.80 0.80
EUR / JPY 128.55 127.53 129.80 128.70 128.76 127.65 127.68 131.10
EUR / CHF 1.0847 1.09 1.10 1.09 1.07 1.05 1.03 1.04

Source: Bloomberg, Emirates NBD Research.

FX EM 14-Jul-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23
USD / SAR 3.7508 3.75 3.75 3.75 3.75 3.75 3.75 3.75
USD / AED 3.6730 3.67 3.67 3.67 3.67 3.67 3.67 3.67
USD / KWD 0.3010 0.30 0.30 0.30 0.30 0.30 0.30 0.30
USD / OMR 0.3850 0.39 0.39 0.39 0.39 0.39 0.39 0.39
USD / BHD 0.3769 0.38 0.38 0.38 0.38 0.38 0.38 0.38
USD / QAR 3.6808 3.64 3.64 3.64 3.64 3.64 3.64 3.64
USD / EGP 15.6984 15.64 15.70 15.80 15.80 15.80 15.80 15.85
USD / MAD 8.9944 8.80 8.80 8.80 - - - -
USD / TND 2.80 2.80 2.85 2.90 2.90 - - -
USD / INR 73.8662 73.60 73.75 74.00 74.00 73.75 73.50 73.50
USD / CNY 6.4656 6.40 6.35 6.30 6.30 6.30 6.30 6.30
USD / SGD 1.3514 1.34 1.33 1.32 1.30 1.30 1.29 1.29

Source: Bloomberg, Emirates NBD Research.