RBI’s net short forward dollar position falls to $95 bn after six months

The Reserve Bank of India’s outstanding net short dollar position in the forward market decreased for the first time in six months to $95.30 billion at the end of April from $103.06 billion at the end of March, data released by the central bank on Friday showed.

Short positions in contracts of less than one year fell to $44.58 billion at the end of April, from $50.26 billion at the end of March. Short positions in contracts with a tenure of more than one year fell by around $2 billion to $50.73 billion.

Of the $95 billion net short dollar position, $13.52 billion was in one-month contracts, $10.90 billion in one-to-three-month tenures, $20.15 billion is set to mature between three months and one year, and the remaining $50 billion was in contracts of more than one year.