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RBI's FX forward book tipped to shrink after touching $200 billion
MUMBAI: The Reserve Bank of India’s net forward dollar liabilities ballooned to a record $200 billion in August, per data released on Wednesday, as the central bank absorbed a surge in one-off policy-induced dollar inflows. Forward liabilities rose $63 billion month-on-month in August after hitting a record high of nearly $137 billion in July. Market participants now expect the stock of forward dollar liabilities to decline as the RBI deploys dollar-rupee sell/buy swaps, which bankers say are likely aimed at bringing forward the maturity of existing positions while also draining excess rupee l...
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