RBI's net outstanding forward dollar sales jump to $78.69 bln as of Feb 28
This story was originally published at 18:09 IST on 1 April 2025
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NEW DELHI – The Reserve Bank of India's net outstanding sales of dollar/rupee forward contracts climbed to a new high of $78.69 billion at the end of February, $1.16 billion higher from a month ago, data from the central bank showed.
The continued rise in the central bank's outstanding forward dollar sales--which had surged by $9.59 billion in January--coincides with the RBI's $5 billion buy/sell swap auction held on Jan. 31, wherein it bought dollars for immediate delivery and will sell them for delivery after six months. The swap auction, whose first leg of settlement took place on Feb. 4, was aimed at infusing durable liquidity in the banking system.
The central bank added positions worth $14.51 billion to its January-end short positions of $30.61 billion in forwards maturing in more than three months to one-year.
In the one month segment, however, the RBI's short positions fell $1.24 billion from its January-end net short position of $26.05 billion. The RBI's short forward positions maturing in the one-three month segment also declined $7.15 billion from its January-end net short position of $25.98 billion.
The net position of the RBI's forward book is the difference between its outstanding gross purchases and gross sales of forward contracts. At the end of February, the central bank's gross long position in its forward book stood at $10.06 billion, up $4.96 billion from a month ago.
| FEBRUARY | TOTAL | UP TO 1 MONTH | 1-3 MONTHS | 3 MONTHS-1 YEAR | MORE THAN 1 YEAR |
| Short positions | 88,753 | 24,808 | 18,830 | 45,115 | 0 |
| (+6,125) | (-1,237) | (-7,148) | (+14,510) | 0 | |
| Long positions | 10,062 | 10,062 | 0 | 0 | 0 |
| (+4,962) | (+4,962) | 0 | 0 | 0 | |
| Net (long-short) | (-)78,691 | (-)14,746 | (-)18,830 | (-)45,115 | 0 |
* Net change from the previous month in parentheses. All figures are in $ million.
End
US$1 = INR 85.47
Reported by Pratiksha
Edited by Akul Nishant Akhoury
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