RBI net buyer of dollars in Nov

In the month, central bank bought $17.787 bn from market while it sold $7.7 bn

The Reserve Bank was a net purchaser of dollars in November for the second consecutive month.

In the month, the central bank bought  $17.787 billion from the market while it sold  $7.7 billion, thereby becoming a net buyer of the greenback in November, RBI data showed.

In October, the RBI, after a gap of five months, became the net buyer of dollars, buying  $9.510 billion and selling  $5.58 billion during the month.

In the fiscal, the RBI first became net purchaser of dollars in April when it bought  $3.29 billion and sold  $2.78 billion.

Between May and September, the RBI was net seller of the US currency on a monthly basis when the rupee was in a free-fall territory.

The rupee started its slide towards the middle of May after US Fed Chairman Ben Bernanke hinted at withdrawing its easy money policy.

The rupee depreciated nearly 30% between May and August. It touched a life-time low of Rs 68.85 during intra-day trades on August 28. However, the rupee closed the year 2013 with an 11% drop.

In September, RBI remained a net seller of the greenback.

In July, it bought mere  $50 million from the market, while sold  $6.03 billion in the month.