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Rupee finds fair value
Financial Express Kochi
|July 28, 2025
IN TWO MONTHS, between April and May 2025, the central bank reduced its net forward book by $20 billion from $84 billion to $65 billion, signaling a strategic unwinding of its long dollar positions.
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While in the spot market in May, the RBI net purchased $1.7 billion. It bought $9.1 billion and sold $7.3 billion in the spot market.
Analysts believe this shift weighed heavily on the INR. By balancing a large short position and opportunistically buying dollars, the RBI has allowed the rupee to slide while containing volatility.
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