Economic TimesLean R·
Indian rupee FX premiums jump after RBI policy leaves traders bracing for more sell/buy swaps
On Wednesday, after the Reserve Bank of India's policy meeting, dollar-rupee forward premiums soared, marking the highest implied 1-year dollar/rupee forward premium seen in six months. With traders expecting more foreign exchange swaps as part of the RBI's liquidity management strategy, the spot USD/INR increased by 0.28%, edging closer to its historical peak. These shifts reveal the profound impact of the RBI's actions on the market.
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