RBI Remains Net Purchaser Of U.S. Dollar In January, Buys $2.854 Billion
A 2017 50 subject uncut sheet of $1 dollar notes bearing the name of U.S. Treasury Secretary Steven Mnuchin sits on display at the U.S. Bureau of Engraving and Printing in Washington, D.C., U.S. (Photographer: Andrew Harrer/Bloomberg)

RBI Remains Net Purchaser Of U.S. Dollar In January, Buys $2.854 Billion

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The Reserve Bank of India continued to remain net buyer of the U.S. dollar in January after it bought $2.854 billion from the spot market, the data showed.

In the reporting month, RBI purchased $18.225 billion and sold $15.371 billion in the spot market, the RBI said in its monthly bulletin for March 2021.

In December 2020, RBI net purchased $3.991 billion from the spot market.

In January 2020, RBI was a net buyer of $10.266 billion. It had purchased $11.486 billion and sold $1.22 billion during the month.

In FY20, the central bank had net purchased $45.097 billion. It had bought $72.205 billion and sold $27.108 billion in the spot market.

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In the forward dollar market, the outstanding net purchase at the end of January was $47.383 billion, compared with net purchase of $39.792 billion in December, the data showed.

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