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RBI's net short forward position hits record $106.6bn amid rupee volatility

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The Reserve Bank of India's net short forward position has reached a record $106.6 billion as it intervened to protect the rupee from volatility driven by Middle East tensions. The rupee had recently fallen to a historic low before staging a partial recovery. The rebound has been supported by expectations of incoming foreign capital flows into India. These anticipated inflows could provide the RBI an opportunity to unwind its forward position. A reduction in the forward book could also help strengthen India's overall foreign exchange reserves.

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RBI's net short forward position hits record $106.6bn amid rupee volatility · ShortSingh