RBI's net outstanding fwd dlr sales hit new high of $77.53 bln as of Jan 31
This story was originally published at 21:41 IST on 28 February 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 $77.53 billion at the end of January, $9.59 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 $9.09 billion in December--coincides with the RBI's continuous buy/sell swaps in the dollar/rupee forward market--buying dollars for immediate delivery and selling them for a forward date--to limit the strain on systemic liquidity.
Earlier this month, Informist had reported citing sources that the RBI's already large outstanding sales of forward dollars are likely to have risen as high as $75 billion last month.
In the one month segment, the RBI's short positions fell $8.02 billion from its December-end net short position of $34.06 billion. However, the RBI had not only rolled over its $24.25 billion worth of short forward positions maturing in the one-three month, but added another $1.73 billion worth of short positions in this segment.
The central bank added positions worth $20.73 billion to its December-end short positions of $9.88 billion in forwards maturing in more than three months to one-year.
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 January, the central bank's gross long position in its forward book stood at $5.10 billion, up $4.85 billion from a month ago.
| JANUARY | TOTAL | UP TO 1 MONTH | 1-3 MONTHS | 3 MONTHS-1 YEAR | MORE THAN 1 YEAR |
| Short positions | 82,628 | 26,045 | 25,978 | 30,605 | 0 |
| (+14,440) | (-8,015) | (+1,725) | (+20,730) | (0) | |
| Long positions | 5,100 | 5,100 | 0 | 0 | 0 |
| (+4,850) | (+4,850) | (0) | (0) | (0) | |
| Net (long-short) | -77,528 | -20,945 | -25,978 | -30,605 | 0 |
* Net change from the previous month in parentheses. All figures are in $ million.
End
US$1 = INR 87.50
Reported by Pratiksha
Edited by Deepshikha Bhardwaj
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