
The futures leg of the contract expires automatically at the RBI reference rate, but the OTC leg needs to closed by buying or selling dollars.The premium that traders were willing to pay to buy dollars at the Reserve Bank of India reference rate, rose to as much as 0.04 rupees, compared to almost par or 0.01 in recent weeks, a trader at a private sector bank said. USD/INR monthly futures expiry fuels demand for dollars -traders.The RBI's monetary policy committee raised the repo rate to 5.90%, its fourth hike in the current cycle, as India's annual inflation rate came above the central bank's target band for the eighth consecutive month in August, driven by surging food prices. Rupee ends volatile week on strong note after RBI raises rates.It lost more than half a percentage point to close at 82.33, the unit's lowest ever closing level, Bloomberg data compiled by ETIG showed. The rupee plunged to a new lifetime low of 82.43 a dollar Friday. Rupee falls to lifetime low, bond yields climb.RBI uses buy-sell swaps for rupee liquidityīuy-sell swap trades have ensured that systemic rupee liquidity, which would otherwise have shrunk as a fallout of spot-market dollar selling, remains adequate through the festive period.The rupee was at 82.85 per dollar on Tuesday, having dropped 11.5% so far in 2022, on course to log its worst yearly decline since 2013 Rupee's worst is likely over, to gain in 2023: HDFC Bank treasurer.dollar index, which measures the currency against a basket of its peers including the euro, was flat at 101.88, having hit an eight-month low of 101.50 last week. Dollar seesaws ahead of busy central bank week, euro higher after Spain CPI.For now, let’s keep the first alphabet A aside, and check out the next in the orders. So, over the short to medium term, the Indian rupee is about to follow its own financial alphabetical order. Is rupee chasing a new alphabetical order?.Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. PrePay Technologies Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900010) for the issuing of electronic money and payment instruments.
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