| Date: |
11-08-2012 |
| Subject: |
RBI sells $2.2 bn in forex market |
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Mumbai, Aug 10: The Reserve Bank sold over $2.2 billion from its foreign exchange reserves during the April- June quarter to arrest the continuous slide of rupee.
Of this the central bank sold the maximum quantity of dollars in May at $1.26 billion, followed by $700 million in June. It had sold $275 million in April.
The Indian rupee had touched a historic low of 57.32 on June 22. Overall it has declined over nine per cent in the April-June quarter.
The central bank also purchased $778 million dollars in May and $650 in June, RBI data said.
It further said in the forward dollar market, the RBI's outstanding sales of the US currency increased to $14.08 billion in June, from $10.31 billion in the previous month.
Source : greaterkashmir.com
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