RBI forward book reaches $104 billion amid rupee pressure
pre-market1 source ↓written by the desknot a recommendation
- surged
- $26 billion
- in March
- $104.16 billion
- month-on-month
- 34% increase
- in March
- 4.24%
- year-to-date due
- 5.6%
The Reserve Bank of India’s dollar short forward positions surged $26 billion to $104.16 billion in March, marking a 34% increase month-on-month. This rise is attributed to heightened foreign exchange interventions aimed at stabilizing the rupee, which has depreciated 4.24% in March and 5.6% year-to-date due to the ongoing conflict in West Asia.
• First time crossing $100 billion
• Increased intervention to support the rupee
• Significant currency depreciation observed
Not investment advice. For informational purposes only.