ET:Rupee NDFs range-bound; waiting on Jackson Hole
The rupee NDFs were largely rangebound, with 1-month at 55.95/05 by early afternoon versus 55.93/56.05 New York close. An analyst has said that the dollar-rupee 1-month NDFs are getting sold on rallies towards 56.50, while dips to 55.50 are well supported.
The pair is seen unlikely to move out of range-bound trading ahead of Ben Bernanke's speech on Friday at Jackson Hole.
The spreads between 1-month offshore NDFs and onshore spot have widened by more than 20 pips over the last one week.
