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RBI is playing with FIRE abt intervention in the FWD USDINR market…. Your sins with come back to haunt you … unlike Equities which can be manipulated for years, you can’t do that same with FX and RATES
@RBI EXTENT Of Forward Intervention is #MindBoggling in one #CHART. You can see INR 2yr & 3yr Implied Forward Premium is 7.8% & 7.59% Respectively
& has Actually Increased while the near term 12 Month INR forward is just 2.5%. This kind of DIVERGENCE is SCARY.#RETWEET #MUSTREAD Image
This is called Timing !!

My tweet was at 1.26pm IST. See the INTRADAY on the INR today … the breakdown happens at 1.57pm IST

I guess I was just lucky I guess since there was NO MOVEMENT in the DXY or regional currencies like the JPY (see Intraday Charts of JPY, INR, DXY) ImageImage
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