RBI Short Dollar Positions Reach Record $104 Billion
The RBI expanded its short dollar forward book to a record $104 billion in March. This defends the rupee against war-driven energy spikes and capital outflows.
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The Reserve Bank of India expanded its short dollar forward book to a record $104B in March to defend the rupee. The position grew $26.5B in one month as conflict between the United States and Iran drove energy prices higher. Investors face a potential currency drag if the central bank unwinds these positions, creating fresh dollar demand.
