 "RBI scaled up foreign exchange market operations in October 2018")
After subdued activity in September, the Reserve Bank of India (RBI) substantially scaled up its foreign exchange market operations in October 2018. It sold greenback net $7.2 billion in October, up from a mere $31 million in September, according to the RBI’s monthly bulletin.
The RBI has been infusing dollars to stem excess volatility in the foreign exchange market.
The cumulative sales (net) in April-October 2018 stood at $25.86 billion, according to the RBI data. The RBI had bought $33.68 billion in the previous financial year 2017-18 (FY18).
The RBI has been infusing dollars to stem excess volatility in the foreign exchange market.
Rs 100 bn infusion in market
The RBI will infuse Rs 100 billion into the market through open market operations (OMOs) on Thursday.
Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs, the RBI has decided to purchase government securities under OMOs for an aggregate amount of Rs 100 billion on December 13, the RBI said in a statement on Tuesday.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%