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India cbank added net $5.5 bln in up to 1-year FX forwards in July
September 1, 2014 / 5:02 AM / 3 years ago

India cbank added net $5.5 bln in up to 1-year FX forwards in July

MUMBAI, Sept 1 (Reuters) - The Reserve Bank of India added a net $5.55 billion of up to one-year forwards in July, adding to its long positions after having erased its forward obligations the previous month, according to Reuters calculations based on data available in the central bank’s website.

The RBI had added a net $11.3 billion in up to one-year forwards in June, which reduced its total forward obligations to just around $160 million.

The total short position in the up to one-year forward market was $9.89 billion as of the end of July and total long position was $41.25 billion.

Within the up to one-year segment, the RBI’s long positions in the more than 3-months to one-year forwards rose to $31.68 billion at the end of July from $29.39 billion the previous month, indicating that the central bank has been mostly buying forwards in this segment. (Reporting by Suvashree Dey Choudhury; Editing by Biju Dwarakanath)

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