Net short position up at $77.5 bn

The Reserve Bank of India's outstanding net short position in the forward book rose further to $77.5 billion by the end of January, against $67.9 billion at the end of December, according to the central bank's monthly bulletin.

- ANJALI KUMARI

In the spot market, the RBI net sold $11.1 billion in January, after a net sale of $15.1 billion in December. The central bank bought $49.1 billion, while it sold $60.2 billion of foreign currency in January. The rupee had depreciated by 1.16 per cent in January.