Wait...
  1. Home >
  2. Export Import News >
  3. Economy News >
  4. RBI net buyer of US Dollar in May too, snaps up $2.54 b >
  5. RBI net buyer of US Dollar in May too, snaps up $2.54 b

Online Export Import Data Search

Complete Training Video : Click Here

RBI net buyer of US Dollar in May too, snaps up $2.54 b.


Date: 12-07-2019
Subject: RBI net buyer of US Dollar in May too, snaps up $2.54 b
Mumbai: The RBI lowered the US dollarNSE 1.32 % purchases in May by almost half the purchases in May to just about $2.5 billion as the inflows slowed amid uncertainty about US interest rates and elections 

The Reserve Bank bought $5.1 billion and sold $ 2.6 billion in May, taking the net spot dollar purchases by the central bank to $ 2.5 billion, according to the latest figures released by the Reserve Bank of India. This almost half the level of net dollar purchases in April this year, during which the central bank bought a net of $ 4.9 billion from the spot market. The central bank was a net seller in May 2018, during which it sold a net of $ 5.8 billion. 

The central bank has remained a very passive participant in the forward markets as well. It bought $224 million in the forward markets in May, the RBI data indicates. Foreign portfolio investors were cautious during the month bringing in a little less than a $ 1 billion during the month. Also foreign direct investment slowed during the month. The rupee weakened by about 0.1% during the month to end at Rs 69.65 by end May. 

But post the elections, there has been an improvement in the foreign portfolio investments. The rupee has also gained against the dollar indicating strong inflows through a variety of sources. 

Post budget, there has been some slowdown in portfolio flows in the secondary markets. But the proposal to raise dollar funds by the government to part finance its expenses is expected to increase dollar flows into the country which would require the central bank to purchase these dollars to release rupee funds. 

The government is working on a sovereign benchmark for external borrowing, which will be finalised by September this year, post which one could see some pick up in dollar flows. 

Source: economictimes.indiatimes.com


Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 16-07-2019
Notification No:10
Amendment in appointing a new Statistics Office under Collection of Statistics Act 2008

Date: 16-07-2019
Circular No 19/2019-Customs
Implementation of PGA eSanchit- Paperless Porcessing under SWIFT- Uploading of Licenses/ Permits/ Ceritificates/ Other Authorizations (LPCOs) by PGAS - reg.

Date: 15-07-2019
Notification No. 51/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 12-07-2019
ECA Circular No. 26/2015-20
Action for recovery of Penalty, Pending Appeals/Reviews

Date: 12-07-2019
Notification No. 50/2019- Customs (N.T.)
Amendment to the Notification No. 63/1994-Customs (N.T) dated 21st November, 1994, by notifying the pipeline of M/s Indian Oil Corporation Limited connecting Barauni, Patna, Motihari, Nonea in India to Amlekhgunj in Nepal as additional route for Raxaul LCS

Date: 12-07-2019
No. 27/2019-Customs (ADD)
Seeks to extend levy of anti-dumping duty till 27.10.2019, on imports of " Paracetamol" originating in or exported from china PR, extended vide notification No. 39/2018 Customs (ADD), dated the 20th August, 2018, in pursuance of order of Hon'ble High Court of Gujarat in the matter of SCA 5278/2019.

Date: 11-07-2019
A.P. (DIR Series) Circular No.2
Exim Bank's Government of India supported Line of Credit of USD 24.50 million to the Government of the Republic of Senegal

Date: 11-07-2019
A.P. (DIR Series) Circular No.1
Exim Bank's Government of India supported Line of Credit of USD 100 million to the Government of Independent State of Papua New Guinea

Date: 09-07-2019
Trade Notice No. 25/2019-20
Import of 4 lakh MT of feed grade Maize (dent corn) under TRQ allowed

Date: 09-07-2019
Notification No. 49/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver - Reg



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001