Money & Banking

RBI remains net buyer of dollars in November 2019, purchases $6.9 billion from spot market

PTI Mumbai | Updated on January 13, 2020 Published on January 13, 2020

File photo   -  PTI

The Reserve Bank of India (RBI) remained a net purchaser of the US dollar in November as it bought $6.928 billion from the spot market, central bank data showed.

The RBI had bought $7.458 billion of the green-back and sold $ 530 million in the spot market in the reporting month.

In October, the RBI had net bought $7.102 billion of the US currency.

It had purchased $7.302 billion and sold $200 million in the spot market.

In November 2018, the RBI had net sold $644 million, buying $3.127 billion from the spot market and selling $3.771 billion.

In FY19, the apex bank was a net seller of dollars, offloading $15.377 billion in the spot market. It had bought $40.804 billion and sold $56.181 billion in the year to March 2019.

In FY18, the RBI had net purchased $33.689 billion from the spot market. Its total dollar purchase was at $52.068 billion, while it sold only $18.379 billion.

In the forward dollar market, the outstanding sales at the end of November stood at $6.143 billion, compared to sale of $7.473 billion in October, the data showed.

Published on January 13, 2020
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