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One-month dollar/rupee forward premiums in India hit their highest level since at least 2000 on May 4. Large dollar inflows tied to an initial public offering and offshore unwinding skewed forward prices and made spot trading illiquid.
The forward premium reflects temporary dollar supply in the financial system rather than a shift in trade or commodity fundamentals. Its effect on feed import costs is limited.
reuters.comSwati BhatMay 4, 2021Not 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.
