The Indian rupee slipped against the US dollar on Monday as the central bank's surprise move to shorten its forex swap timeframe rattled the market. Importer demand for dollars continued to exert downward pressure on the rupee. In response to the announcement, dollar-rupee forward premiums spiked significantly, while analysts remain optimistic about potential inflows in light of the revised swap conditions.
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Rupee slips as sentiment drags on RBI curtailing FX inflow window
The Indian rupee slipped against the US dollar on Monday as the central bank's surprise move to shorten its forex swap timeframe rattled the market. Importer demand for dollars continued to exert downward pressure on…
The Indian rupee slipped against the US dollar on Monday as the central bank's surprise move to shorten its forex swap timeframe rattled the market. Importer demand for dollars continued.
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