RBI interventions prevent panic buying in US dollar
The 12-month onshore forward premium was little changed at 4.63 percent.
Synopsis
Companies with overseas liabilities have not shown any desperation to cover their currency risk in the past three working days during which the local unit slipped well below the psychological mark amid the second wave of the coronavirus.
Mumbai: Importers seem relatively less concerned about the rupee’s latest weakness since the central bank is perceived to be protecting the crucial level of 75 to a dollar through reportedly robust market interventions.
Companies with overseas liabilities have not shown any desperation to cover their currency risk in the past three working days during which the local unit slipped well below the psychological mark amid the second wave of the
