RBI's forward book reaches $104 billion amid rupee volatility
after close1 source ↓written by the desknot a recommendation
- to a record
- $104.16 billion
- from February
- 34% rise
- in March
- 4.24%
The Reserve Bank of India (RBI) has increased its dollar short-forward positions to a record $104.16 billion, marking a 34% rise from February. This move aims to defend the Indian rupee, which has fallen 4.24% in March amid global tensions. Analysts suggest this indicates a shift in the RBI's strategy towards managing currency fluctuations more indirectly.
Not investment advice. For informational purposes only.