Comments
The Reserve Bank of India (RBI) has purchased $ 2.7 billion (on a net basis) in the spot market in October, according to data released in its monthly bulletin. The bank had purchased $1.43 billion in September.
The RBI had also added net purchases of $1.8 billion in the forwards market taking its total outstanding forward purchase at the end of October to $ 10.217 billion.
The RBI has been using forex inflows to steadily build its reserves position also. Forex reserves are currently at $ 316 billion. The RBI has added about $ 12 billion to the reserves in the first six months of the fiscal.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.