RBI's net short forward dollar position increases to $106 bn by end-May

The Reserve Bank of India’s outstanding net short dollar position in the forward market increased to $106.66 billion at end-May from $95.30 billion at end-April, data released by the central bank on Tuesday showed.

Short positions with a maturity of less than one year rose to $50.59 billion at end-May from $44.58 billion at end-April. Short positions with a maturity of more than one year rose by around $6 billion to $56.07 billion.

Of the $106.66 billion net short dollar position, $19.82 billion was in one-month contracts, $8.86 billion in one- to three-month tenures, $21.90 billion was set to mature between three months and one year, and the remaining $56.07 billion was in contracts with a maturity of more than one year.