Rupee touches six-week high on likely dollar inflows; forward premiums decline
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The Indian rupee reached its highest level in six weeks, trading at 83.1750 against the US dollar, supported by likely dollar inflows and a decline in forward premiums. The rupee's gain was aided by equity-related dollar sales and net buying of $560 million of Indian stocks by foreign investors. The 1-year implied yield for the dollar-rupee slipped, while the 1-year US Treasury yield rose. The overall outlook for the rupee appears strongly positive, according to Amit Pabari, managing director at FX advisory firm CR Forex.

#Rupee #DollarInflows #ForwardPremiums #IndianStocks #ForeignInvestors

https://m.economictimes.com/markets/forex/rupee-touches-six-week-high-on-likely-dollar-inflows-forward-premiums-decline/articleshow/110381949.cms