Loading…
The one-year onshore forward premium for the rupee fell to its lowest level since 2011 after RBI forward market intervention and a shortage of cash dollars. Traders warned the rupee could slide toward 79-80 per dollar as carry trades unwind.
A weaker rupee raises India's import costs for oil and other commodities and can weigh on Indian demand sentiment for imported feed inputs. Smaller forward premiums make carry trades less attractive, adding downside pressure on the currency.
reuters.comSwati BhatJun 23, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
