Rupee falls on weak Asian peers, premiums at 3-month low

The Indian rupee has fallen following the downward move in other Asian currencies. The rupee was marked at 82.20 per dollar and fell 0.4% last week, tracking the rise in the dollar index. Forward premiums have now reached their lowest point since February and it is thought there will not be a bigger fall from the current level. If USD/INR hits the 82.40 to 82.50 level, a trader at a private sector bank believes that the Reserve Bank of India will sell dollars.