RBI ballooning NDF position suggests more rupee losses, say bankers

Quick Summary:

The Reserve Bank of India's aggregate short foreign currency in forwards and futures position jumped three-fold to $49.

While, technically, the RBI can build an unlimited position, what needs to be considered is how that stacks up against the overall market's position, said the official, who declined to be named as he is not authorised to speak to the media.

It testifies the kind of outflow pressures that the rupee is having to contend with," said Dhiraj Nim, a forex strategist and economist at ANZ.

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Category: BusinessFinance

Markets: India

Topics: Reserve Bank of India Indian Rupee RBI Rupee Foreign currency Bankers

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-02 @ 13:50:30 (2 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 515 words

Reading Time: 3 minutes read

Sentences: 20 lines

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Copyright Owner: © Business Standard

News ID: 24033316

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