Forward market plays an important role in deciding the Forex Reserves. RBI has now decided to take advance delviery of outstanding long forward dollar positions points to its desire in order to protect the fast depleting Forex Reserves. Here is an article which explains in detail about the RBI move and its repurcussions.
PS:
The forward market is the informal over-the-counter financial market by which contracts for future delivery are entered into. Standardized forward contracts are called futures contracts and traded on.
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