Reserve Bank of India becomes net buyer of dollars, purchases $5.61 bn in September

In FY19, the Reserve Bank of India was a net seller of the dollar 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

Press Trust of India November 13, 2019 09:42:10 IST
Reserve Bank of India becomes net buyer of dollars, purchases $5.61 bn in September
  • In July 2019, the RBI had turned a net seller of the US dollar for first time in this fiscal, after it sold $93 million on a net basis

  • In FY19, the apex bank was a net seller of the dollar 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 purchased $33.689 billion from the spot market, taking its total dollar purchase to $52.068 billion, and sold only $18.379 billion.

Mumbai: After remaining net seller of the US dollar for two consecutive months, the Reserve Bank of India (RBI) turned net purchaser of the greenback after it bought $5.614 billion in September, RBI data showed.

During the reporting month, the RBI purchased $6.514 billion and sold $900 million in the spot market, according to a recent RBI data.

In July 2019, the RBI had turned a net seller of the US dollar for first time in this fiscal, after it sold $93 million on a net basis.

In August, it sold $4.072 billion on net basis in the spot market.

Reserve Bank of India becomes net buyer of dollars purchases 561 bn in September

Representational image. Reuters

In June 2019, RBI purchased $2.463 billion, as it bought $4.434 billion and sold $1.971 billion.

In May and April, the Central Bank had purchased $2.538 billion and $4.901 billion, respectively. In September 2018, it had net sold $31 million in the spot market.

In FY19, the apex bank was a net seller of the dollar 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 purchased $33.689 billion from the spot market, taking its total dollar purchase to $52.068 billion, and sold only $18.379 billion.

In the forward dollar market, the outstanding sales at the end of September were $7.483 billion, compared to a sale of $7.848 billion in August, the data showed.

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