Mumbai: The central bank’s net short forward positions increased to $200 billion in August even as some long positions were added, amid inflows from the special window for FCNR(B) hit the system. The net short forward positions stood at $136 billion in July, latest Reserve Bank data showed.
Long positions in the upto one month tenure increased to $31.6 billion, while short positions of the same maturity stood at $12.1 billion. In the 1-3 month category, short positions stood at $11 billion, while in the three month to one year tenure, short positions were at $24.6 billion.
“There are additions of long dollar positions, which implies sell-buy swaps. Additionally, the RBI seems to be unable to allow complete maturity of shorts, because there is depreciation pressure on the rupee,” said Gaura Sengupta, chief economist, IDFC First Bank.
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Short positions with tenures of more than one year stood at $176.5 billion.
