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RBI turns net buyer of US dollar in April; purchases $4.212 billion.


Date: 17-06-2021
Subject: RBI turns net buyer of US dollar in April; purchases $4.212 billion
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

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