Rupee rises on inflows, forward premiums fall on RBI swap maturity
The rupee was at 82.9175 to the U.S. dollar at 11:26 a.m. IST, up from 82.97 in the previous session. The currency has been in a 4 paisa range so far.
Source: indiatimes.com
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Rupee strengthens aided by uptick in Asian peers, forward premiums slip
The rupee was at 82.87 against the U.S. dollar as of 10:25 a.m. IST, higher by 0.11%, compared to its close at 82.9650 in the previous session.
Source: indiatimes.com
Currency market: PSB's 'buy-sell swap' cools down forward premiums
The rupee was the best performing Asian currency in May, when the RBI was mostly intervening in the spot market to arrest any sudden rise in the local currency. Speculators had increased their “sell-buy swap” bets in anticipation that the RBI would convert its spot dollars into forwards, an event that sent premiums higher. The buy-sell swap trades by banks have now reduced the probability of that.
Source: indiatimes.com