India FX forward premiums rise as 1-year up 64 bps
India’s FX forward premiums extended their post-RBI move; the one-year implied rate is up 64 basis points this week amid expectations of more sell/buy swaps.
India’s FX forward premiums extended their post-policy rise on Thursday, with the 1-year implied rate up 64 basis points this week, as expectations grew that the central bank could conduct more sell/buy swaps. High overnight swap costs were also adding upward pressure to the 1-year implied rate, which rose 11 b…