Forward premiums crashed to lifetime lows today, even as the spot rupee closed at a two-year high of 46.90 against the dollar after rising to 46.89 during the day.
The six-month annualised forward premium crashed to 0.35 per cent, while the one-year forward closed at 0.38 per cent.
The previous lifetime low was recorded in July 1994, when the six-month forward traded at a premium of 0.46 per cent.
In absolute terms, the six-month forward premium stood at 8.5 paise today, while the one-year premium was at 17 paise. At the shorter end, the one-month forward was at 2.5 paise and the three-month forward was at 5 paise.
