RBI's net outstanding forward dollar sales ease in Dec from 7-mo high in Nov
This story was originally published at 18:44 IST on 30 January 2026
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--RBI's net short fwd position $62.35 bln at Dec-end vs $66.05 bln Nov-end
--RBI up to 1-mo short fwd position $20.26 bln Dec-end vs $18.87 bln Nov-end
--RBI's 1-3-mo FX short fwd position $5.98 bln Dec-end vs $16.84 bln Nov-end
--RBI 3 mo-1 yr FX short fwd position $4.40 bln Dec-end vs $2.26 bln Nov-end
--RBI over 1-yr FX short fwd position $31.7 bln Dec-end vs $28.1 bln Nov-end
NEW DELHI – The Reserve Bank of India's net outstanding sales of dollar-rupee forward contracts eased in December from a seven-month high in November as the central bank likely trimmed some of its short positions, data from the RBI showed Friday.
The size of the RBI's net short outstanding forward book had only been growing for the last three months. Net outstanding sales of dollar-rupee forward contracts fell to $62.35 billion at the end of December, $3.69 billion lower from a month ago.
The central bank reduced positions worth $10.87 billion from its November-end short positions of $16.84 billion in forwards maturing in one-to-three months. In the one-month segment, however, the RBI's short positions rose $1.39 billion from its November-end short position of $18.87 billion.
The outstanding short positions increased $2.14 billion in the tenure of three months to a year to $4.40 billion at the end of December. The net position of the RBI's forward book is the difference between its outstanding gross purchases and gross sales of forward contracts.
The RBI's short positions in long-term forwards with maturity over one year was $31.72 billion as of December-end, up $3.65 billion on month. The RBI had conducted a $5 billion dollar-rupee buy-sell swap auction on Dec. 16 for a tenure of three years. The RBI had accepted 118 bids worth $5.07 billion at the swap auction.
The central bank did not have any gross long positions in its forwards book at the end of December. The rupee fell 0.5% against the dollar in December.
Details of the RBI's outstanding forward book as on Dec. 31 are as follows. All figures in million dollars:
| December | Total | Up To 1 Month | 1-3 Months | 3 Months-1 Year | More Than 1 Year |
| Short positions | 62,353 | 20,260 | 5,975 | 4,395 | 31,723 |
| Net change from Nov-end | -3,692 | 1,390 | -10,865 | 2,135 | 3,648 |
| Long positions | 0 | 0 | 0 | 0 | 0 |
| Net change from Nov-end | 0 | 0 | 0 | 0 | 0 |
| Net (long-short) | (-)62,353 | (-)20,260 | (-)5,975 | (-)4,395 | (-)31.723 |
End
US$1 = INR 91.98
Reported by Pratiksha
Edited by Tanima Banerjee
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