0948 GMT [Dow Jones] USD/INR forward premiums are higher on some
paying interest from foreign institutions. One-year forward premiums
are at 2.85 vs 2.78 late Monday in Asia. A dealer with a private bank
says premiums have been adjusting for the RBI's unexpected decision to
keep rates unchanged Monday, but the rate pause has now been priced
in. He expects the trend in the spot pair to drive premiums in the
near term, tipping the near-term cap at 2.90. The spot pair is at
56.11 vs 55.91 late Monday in Asia. (sudeep.jain@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(END) Dow Jones Newswires
June 19, 2012 05:48 ET (09:48 GMT)
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