Hedging Dollar exposure

When we are trading commodities market from 10AM till 5 PM, the price of all commodities are also affected by a very important factor the USDINR rate.
Since active MCX & USDINR contract expiry dates are very near to each other, one can hedge his dollar exposure & make your position purely sensitive to commodity price in international markets.
e.g
If i Buy 1lot crude at 5000 then my transaction value is 500000, my dollar exposure is 500000/USDINR future price(say 50)= 1000 $
I should simultaneously sell 1 lot USDINR futures
Similarly both positions should be closed simultaneously.


This was the line of thinking i followed & i guess that's the correct way to do things, but there is problem for an active day trader, he pays transaction charges on both trades & these charges can be large if 8/10 trades are scratches(in price terms).
So my question to seasoned commodity players is

Is this the right way, anybody doing this actively?

If someone doing this can you share your experiences.

Thanx,
Naveen

There is a correction in first post.
Dollar exposure is 10000$ for 1 lot crude & hence one should sell 10 lots of
USDINR futures.

I have one more observation.
I thought that after 5 PM (when USDINR domestic market is closed), MCX price will purely move based on international prices, so MCX would be pseudo international markets. It seems that currency markets play a role even after 5PM. DGCX has INR futures & price moves a good amount even after 5PM.
This does have effect on MCX prices.
Can somebody throw some light on USDINR offshore trading after 5PM, is there an active NDF market in London/New York ?

Simple logic says that not many participants actively hedge their commodity exposure( based on turnover of USDINR futures & total MCX turnover).

If somebody can guide me on currency hedging ,i will be grateful.

Regards,
Naveen