RBI Remains Net Purchaser Of U.S. Dollar In November, Buys $10.26 Billion
An employee uses a machine to count U.S. one-hundred dollar banknotes. (Photographer: Paul Yeung/Bloomberg)

RBI Remains Net Purchaser Of U.S. Dollar In November, Buys $10.26 Billion

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The Reserve Bank of India continued to remain a net buyer of the U.S. currency in November after it bought $10.26 billion from the spot market, data showed.

During the reporting month, the central bank purchased $14.29 billion and sold $4.03 billion, according to the monthly bulletin released by the RBI for January.

In October this year, though the RBI had purchased $15.64 billion from the spot market, it did not sell the U.S. currency.

In November 2019, the RBI had bought $7.46 billion and sold $530 million in the spot market.

In FY20, the central bank had net purchased $45.10 billion. It had bought $72.21 billion and sold $27.108 billion in the spot market.

In the forward dollar market, the outstanding net purchase at the end of November was $28.34 billion, compared to $13.56 billion in October, the data showed.

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