The USD/INR spot pair is at 49.36, down from 49.79 late Monday

USD/INR forward premiums are higher, tracking a fall in the spot pair, says a dealer at a foreign bank. The one-year forward premiums are at 2.950 vs 2.915 late Monday in Asia. "The premiums may rise further as the liquidity situation is tight and may remain so in the days to come in the absence of bond buybacks," the dealer says. He adds, some exporters are selling at higher levels which is limiting the upside of premiums. The dealer tips one-year premiums in a 2.90-3.00 band for the session. The USD/INR spot pair is at 49.36, down from 49.79 late Monday