The Reserve Bank of India (RBI) turned net buyer of the US currency in April after it purchased $4.212 billion from the spot market on a net basis, according to the central bank data.
During the month, while the RBI bought $8.182 billion from the spot market, it sold $3.97 billion, the monthly RBI bulletin for June 2021, released on Wednesday, showed.
In March this year, the central bank had net sold $5.699 billion of the US currency. It had purchased $20.25 billion and sold $25.949 billion in the spot market.
In FY2020-21, the RBI 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 fiscal 2020-21, the data showed.
In the forward dollar market, the outstanding net purchase at the end of April 2021 was $64.944 billion, compared with a net purchase of $72.751 billion in March 2021.
Source:moneycontrol.com