Cash Tom Trades In Negative Zone

In a rare occurrence, the cash tom in the foreign exchange market today was dealt at a discount of minus 0.001 paise while cash spot was dealt at par. Cash tom or cash tomorrow is essentially a one-day forward rate which is settled on the next working day while spot is settled on a T+2 basis.

Dealers said that on March 31 too, the cash tom premium was in a negative zone at minus 0.5 paise.