RBI Remains Net Purchaser Of US Dollar In November, Buys USD 10.261 Billion
The Reserve Bank of India (RBI) continued to remain a net buyer of the US currency in November after it bought USD 10.261 billion from the spot market, data showed.
During the reporting month, the central bank purchased USD 14.289 billion and sold USD 4.028 billion, according to the monthly bulletin released by the RBI for January.
In October this year, though the RBI had purchased USD 15.64 billion from the spot market, it did not sell the US currency.
In November 2019, the RBI had bought USD 7.458 billion and sold USD 530 million in the spot market.
In FY20, the central bank had net purchased USD 45.097 billion. It had bought USD 72.205 billion and sold USD 27.108 billion in the spot market.
In the forward dollar market, the outstanding net purchase at the end of November was USD 28.344 billion, compared to USD 13.556 billion in October, the data showed.
(PTI)
