RBI's net short forward dollar position falls to $95 bn after six months

The Reserve Bank of India's outstanding net short dollar position in the forward market declined in April, marking the first reduction after six consecutive months of increases

The Reserve Bank of India’s outstanding net short dollar position in the forward market decreased for the first time in six months to $95.30 billion at the end of April from $103.06 billion at the end of March, data released by the central bank on Friday showed.

 

Short positions in contracts of less than one year fell to $44.58 billion at the end of April, from $50.26 billion at the end of March. Short positions in contracts with a tenure of more than one year fell by around $2 billion to $50.73 billion.

 

Of the $95 billion net short dollar position, $13.52 billion was in one-month contracts, $10.90 billion in one-to-three-month tenures, $20.15 billion is set to mature between three months and one year, and the remaining $50 billion was in contracts of more than one year.