MUMBAI, Aug 23 (Reuters) - USD/INR near-term futures see an increase in open interest (OI) ahead of the August contract expiry.
** USD/INR NSE September contract OI climbs $125 million or 7.6% to $1.75 billion. August contract OI up slightly to $3.18 billion ahead of expiry this Friday.
** Build-up in OI suggests an increase in short positions on the contract as rupee holds above 80.
** Spot USD/INR marginally higher at 79.85 against 79.8675 on Monday despite weak risk sentiment, dollar's strength versus major peers.
** Expectations of Reserve Bank of India intervention capping USD/INR upside.
** Rupee one-year forward implied yield at 3.03%, barely changed from Monday. July rupee forward premiums at 2.25 rupees.
** Premiums unchanged following comments by RBI Governor Shaktikanta Das comments that inflation had likely peaked. (Reporting by Nimesh Vora)
