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.
Source: News18