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