USD/INR Fwd Premiums Tad Up; 1-Yr In 2.90-3.00 Band

USD/INR forward premiums are slightly higher on sustained paying interest from foreign institutions looking to hedge their investments, says a dealer with a state-run bank. One-year forward premiums are at 2.96 vs 2.94 late Tuesday in Asia. "We did see some customer-based receiving earlier in the session, but the paying interest from FIIs (foreign institutional investors) is strong and is expected to continue as the outlook on inflows is positive," he says. The dealer tips one-year forward premiums to stay in a 2.90-3.00 range for the near-term. The spot pair is at 49.24, down from 49.31 late Tuesday in Asia