The Reserve Bank of India (RBI) turned net seller of the US currency in December 2021 after it sold $2.917 billion on a net basis in the spot market.
In December 2020, the central bank had net purchased $3.991 billion of the US currency from the spot market. During the FY2020-21, the central bank had net purchased $68.315 billion from the spot market.
The Reserve Bank of India (RBI) turned net seller of the US currency in December 2021 after it sold $2.917 billion on a net basis in the spot market.
In the reporting month, the RBI bought $7.475 billion and sold $10.392 billion in the spot market, the RBI Bulletin for February 2022 released on Wednesday showed.
In November 2021, the RBI had purchased $8.489 billion from the spot market and sold a similar amount in the market.
In December 2020, the central bank had net purchased $3.991 billion of the US currency from the spot market. During the FY2020-21, the central bank had net purchased $68.315 billion from the spot market. It had bought $162.479 billion from the spot market and sold $94.164 billion during the financial year 2020-21, the data showed.
In the forward dollar market, the outstanding net purchase at the end of December 2021 was $49.106 billion, the same as in the previous month, the data showed.