USD/INR Fwd Premiums Up; 1-Year Tipped 1.10-1.15

Posted by BorsaStreet.com on Thursday, September 22, 2011
USD/INR forward premiums are slightly higher despite a firm spot pair, as traders continue to take profit on receiving positions, a dealer with a state-run bank says. The one-year forward premiums are at 1.130 from 1.115 late Wednesday. "The forward premiums have been decoupled from the spot pair today, which rose above the psychologically important 49.0 levels," the trader adds. He tips the one-year contract to remain in a 1.10-1.15 band for rest of the session.

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