MARKET NEWS
Dollar-rupee forwards dip on RBI rate cut bets, overnight swap rate normalizes - REUTERS
MUMBAI, Feb 5 (Reuters) - Dollar-rupee forward premiums and very-near-tenor swap rates dipped on Wednesday as some of the excess dollar liquidity in the banking system was drained and on expectations of an interest rate cut later this week.
The dollar-rupee overnight swap rate eased to about 0.55 paisa on the day, commensurate with the prevailing rupee call rates, after staying elevated for the better part of December and January.
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