RBI remains net purchaser of US dollar in July, buys $15.973 billion

PTI Mumbai | Updated on September 12, 2020 Published on September 12, 2020

The Reserve Bank of India (RBI) continued to remain a net buyer of the United States (US currency in July after it purchased $15.973 billion on a net basis from the spot market, according to its monthly bulletin.

In the month, the central bank bought $16.903 billion and sold $930 million in the spot market, according to the monthly bulletin released by the Reserve Bank of India (RBI).

In the same month of 2019, the RBI was a net seller of US dollars after it bought $1.592 billion and sold 1.685 billion.

In June and May, 2020, the RBI had net bought $9.814 billion and $ 4.363 billion respectively. In April, it had sold $1.142 billion on a net basis.

In FY20, it net purchased $45.097 billion. It had bought $72.205 billion while sold $27.108 billion in the spot market.

In the forward dollar market, the outstanding net sales at the end of July were at $379 million, compared to a net purchase of $2.459 billion in June, data showed.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on September 12, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.