MUMBAI, March 16: The imminent BJP-led government at the centre has strengthened the forward premium on dollar at the inter-bank foreign exchange market here on Monday.
Dealers expect the rupee to stabilise without showing any volatility. “It reflects the initial euphoria over the fact that political uncertainty is coming to an end,” said a dealer.
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The forward premium fell by 10 to 15 paise across the board on signs of a stable government emerging at the centre. Six-month forwards closed stronger at 10.45 per cent up from Thursday’s close of 10.90 per cent.
