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RBI's Indian rupee boost to spur rally, trigger swings in forward premiums
MUMBAI: The Indian rupee is poised to rally at Monday’s open after the central bank stepped up efforts to curb dollar demand, while higher costs under a new foreign-exchange rule are expected to temper forward dollar buying and impact forward premiums. The Indian rupee is expected to strengthen about 1% to 95.60-95.90 per dollar, after settling at 96.73 on Friday, traders said. The Reserve Bank of India on Saturday barred users from rebooking cancelled rupee-linked foreign exchange derivative contracts, slashed the threshold for transactions without establishing underlying exposure and req...
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