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Rupee FX premiums jump after RBI policy decision
Original: Indian rupee FX premiums jump after RBI policy leaves traders bracing for more sell/buy swaps
Forward premium rates on the Indian rupee rose after the Reserve Bank of India's latest policy decision, with traders positioning for more sell/buy swap operations by the central bank. Dealers say uncertainty over how the RBI will manage dollar liquidity has pushed up hedging costs, leaving market participants bracing for further swap activity in the coming sessions.
Why now: The RBI's policy outcome surprised traders and is driving up rupee forward premiums and hedging costs.
Indian rupeeReserve Bank of India
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- Indian rupee FX premiums jump after RBI policy leaves traders bracing for more sell/buy swaps · Reuters
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