Indian rupee FX premiums jump after RBI policy leaves traders bracing for more sell/buy swaps
The dollar-rupee forward premiums soared, with traders bracing for more sell/buy FX swaps by the Reserve Bank of India after the central bank announced no new liquidity-withdrawal measures at its policy meeting. The implied 1-year dollar/rupee forward premium climbed 20 basis points to 3.66%, its highest in six months.