Rupee Holds Steady As Dollar Swap Costs Surge
The Indian rupee traded within a narrow range on Thursday as strong dollar demand weighed on the currency. Meanwhile, abundant dollar liquidity sparked a sharp jump in one-day swap costs and near-term forward premiums.
The India rupee traded in a tight 6-paisa range against the United States dollar on Thursday morning, holding at 95.4650. The spot currency moved less than 0.1% lower on the session amid steady reference-rate dollar demand.
