Short dollar forward positions ballooned to $106.7 billion in May.
500 rupee banknotes counted by a cash counting machine at a currency exchange in New Delhi, India, on Saturday, Aug. 30, 2025. The Indian rupee slumped to a record low versus the dollar on concern that 50% US tariffs will hurt the country’s economic growth and corporate earnings. Photographer: Prakash Singh/Bloomberg
Over the past two years, India’s central bank built one of the world’s largest bearish dollar bets to support a persistently weak rupee. It now faces the challenge of unwinding that position without destabilizing the currency market.
Over the past two years, India’s central bank built one of the world’s largest bearish dollar bets to support a persistently weak rupee. It now faces the challenge of unwinding that position without destabilizing the currency market.
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