RBI net short dollar position rises to $66 bn in rupee forwards by Nov end

RBI data shows its outstanding net short dollar position in the rupee forward market rose to $66.04 billion by end-November, up from $63.6 billion at end-October

The Reserve Bank of India’s outstanding net short dollar position in the rupee forward market rose further to $66.04 billion by the end of November, against $63.6 billion by end of October, latest data from the Reserve Bank of India showed.

 

How is RBI’s net short dollar position split across contract tenures? 

Of the $66 billion net short dollar position, $18.8 billion was in one-month contracts, $16.8 billion in one-to-three month tenures, $2.1 billion is set to mature between three months and a year, and the remaining $28 billion was in contracts of more than a year.

 

What does RBI’s REER data show for November 2025? 

 

As of November 2025, the real effective exchange rate (REER) of the Indian rupee stood at 97.51, unchanged from October.

 

What is the difference between REER and NEER, and what does REER above 100 mean? 

The REER adjusts the nominal effective exchange rate (NEER) to account for inflation differentials between India and its major trading partners. A REER value above 100 indicates an appreciation of the rupee relative to the base year, potentially making Indian exports less competitive in global markets.