Rupee defence lifts key forex tool past $110 billion mark

The RBI's net-short dollar book, a measure of the degree it had sold forward its stockpile of the US currency, climbed to about $110 billion-$115 billion across onshore and offshore markets, according to people familiar with the developments.

- BLOOMBERG

That’s about 16 per cent of its total dollar holdings and represents a sharp rise from $95.3 billion in April.

The central bank ramped up its interventions after the rupee weakened to a record low on May 20, when it almost hit the 97 per dollar mark, the people said, asking not to be named because they aren't authorised to speak to the media.