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RBI remains net buyer of dollar in Sept, snaps up $1.3 bn from spot market

RBI intervenes in the foreign market to contain volatility in the rupee and not set a price band

Press Trust of India  |  Mumbai 

RBI, reserve bank of India

The Reserve Bank continued to remain the net purchaser of US currency after it bought $1.259 billion in September from the

In the reporting month, the central bank bought $3.788 billion, while it sold $2.529 billion in the spot market, according to the latest data.


In August too, the central bank was net purchaser of 3.226 billion of the greenback, buying $4.556 billion and selling $1.330 billion in the

The intervenes in the foreign market to contain volatility in the rupee and not set a price band.

Last year in September, the had net purchased $4.649 billion and had sold $4.392 billion, while it bought $ 9.041 billion from the

In FY17, it net purchased 12.351 billion of the US currency as it bought $71.764 billion and sold $59.413 billion in the

In the financial year 2016, the central bank was again a net buyer to the tune of $10.209 billion.

In the forward dollar market, the outstanding net purchase at the end of September was $31.131 billion, while the net forward purchase at the end of August was $32.823 billion, the data showed.

First Published: Sun, November 12 2017. 10:53 IST
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