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RBI Remains Net Purchaser of US Dollar in November, Buys $10.261 Billion from Data Market

Representative image.

Representative image.

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.

The Reserve Bank of India (RBI) continued to remain a net buyer of the US currency in November after it bought $10.261 billion from the spot market, data showed. During the reporting month, the central bank purchased $14.289 billion and sold $4.028 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 US currency. In November 2019, the RBI had bought $7.458 billion and sold $530 million in the spot market.

In FY20, the central bank had net purchased $45.097 billion. It had bought $72.205 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 $28.344 billion, compared to $13.556 billion in October, the data showed.

first published:January 21, 2021, 17:13 IST
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