Cashew Steady, Eyes on Indian Currency Movement

This entry was posted on Thursday, January 19th, 2012 and is filed under Cashew, Indian Forex.

Indian Rupee value is now the deciding factor for the global cashew market. Both the raw cashew and cashew kernel prices are ruling steady with negligible trade volume as bulk activity in import- export trade needs a stable Forex market. There is some sort of guarantee, mainly from the very high forward premium for the Dollar in the Indian commercial banks but the market is not much impressed by such heavy forward premium. According to some analysts, high forward premium shows the possibilities of further Rupee depreciation. If the Indian currency maintains its stability, world cashew market will also enjoy stability with normal trade volume.

Filed Under: Cashew, Indian Forex