RBI's net outstanding fwd dollar sales hit record high of $103.06 bln in Mar
This story was originally published at 22:23 IST on 30 April 2026
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NEW DELHI – The Reserve Bank of India's net outstanding sales of dollar-rupee forward contracts rose to a record high of $103.06 billion at the end of March, up $25.40 billion on month, data from the central bank showed late Thursday.
The continued rise in the RBI's outstanding forward dollar sales reflects the RBI's increased defence of the rupee amid the risks from the war in West Asia, by intervening through dollar sales in the foreign exchange market. The rupee depreciated over 4% against the dollar in March.
Of the total forward book, short positions with maturity of up to one month stood at $15.56 billion at the end of March, up $4.61 billion from a month ago. The RBI's short positions for the tenure of 1-3 months increased the most and were at $16.15 billion at March-end, up $10.24 billion from a month ago. The outstanding short positions increased by $7.95 billion in the tenure of three months to a year to $19.65 billion at the end of March. 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 of over one year increased to $52.80 billion as of March-end, up $3.70 billion on month. The central bank's long positions were at $1.10 billion at the end of March.
Details of the RBI's outstanding forward book as on Mar. 31 are as follows. All figures in billion dollars:
| March | Total | Up To 1 Month | 1-3 Months | 3 Months-1 Year | More Than 1 Year |
| Short positions | 104.16 | 15.56 | 16.15 | 19.65 | 52.80 |
| Net change from Feb-end | 26.50 | 4.61 | 10.24 | 7.95 | 3.70 |
| Long positions | 1.10 | 1.10 | 0 | 0 | 0 |
| Net change from Feb-end | 1.10 | 1.10 | 0 | 0 | 0 |
| Net (long-short) | (-)103.06 | (-)14.46 | (-)16.15 | (-)19.65 | (-)52.80 |
End
US$1 = INR 94.91
Reported by Pratiksha
Edited by Rajeev Pai
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