Economic TimesLean R·
India ₹ defense lifts forex tool past $110B
The Reserve Bank of India’s use of a key tool for defending the rupee has passed the $110 billion mark in recent weeks to a new record, according to people familiar with the developments.The RBI’s net-short dollar book, a measure of the degree it has sold forward its stockpile of the US currency, has risen to about $110 billion-$115 billion across onshore and offshore markets, said the people who asked not to be identified as the information is private. The book was at $95.3 billion in April, d…
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