RBI Remains Net Buyer Of Dollars In November, Purchases $6.9 Billion From Spot Market

The Reserve Bank of India remained a net purchaser of the U.S. dollar in November as it bought $6.928 billion from the spot market, central bank data showed.

The RBI had bought $7.458 billion of the greenback and sold $530 million in the spot market in the reporting month.

In October, the RBI had net bought $7.102 billion of the U.S. currency.

It had purchased $7.302 billion and sold $200 million in the spot market.

In November 2018, the RBI had net sold $644 million, buying $3.127 billion from the spot market and selling $3.771 billion.

In fiscal year 2019, the apex bank was a net seller of dollars, offloading $15.377 billion in the spot market. It had bought $40.804 billion and sold $56.181 billion in the year to March 2019.

In FY18, the RBI had net purchased $33.689 billion from the spot market. Its total dollar purchase was at $52.068 billion, while it sold only $18.379 billion.

In the forward dollar market, the outstanding sales at the end of November stood at $6.143 billion, compared to sale of $7.473 billion in October, the data showed.