Tags:
Journalism of Courage
MUMBAI, June 8: Six-month forward premia crossed the psychological barrier of 10 per cent on Monday as speculators captured the market in a fresh attack on the rupee. In the spot market, the rupee remained steady at 41.80 against the dollar mainly due to the sale window opened by SBI.
quot;The sentiments are bearish and there is no chance of any fresh reversal of mood in the near term. Inflows cannot be expected for some time now as everybody seems to be buying dollars to cover his position,quot; foreign exchange dealers said. A few bankers attributed the high premium to arbitrage between the non-delivery forward NDF market and the domestic market.
