RBI net purchaser of dollars in October, buys USD 1.934 bn

After remaining net seller of dollars for two consecutive months, Reserve Bank purchased USD 1.934 billion in October from the spot market.
The central bank bought USD 6.996 billion from the spot market while it sold USD 5.062 billion in the reporting month, RBI said in its monthly bulletin release today.
Last year in October, RBI had net purchased USD 2.703 billion after it bought USD 14.257 billion and sold USD 11.554 billion in the spot market.
RBI had net sold USD 1.559 billion and USD 60 million in August and September, respectively, this year.
In FY15, RBI was the net purchaser of USD 54.837 billion, when it had bought USD 124.414 billion and sold USD 69.577 billion.

RBI's intervention in the foreign exchange market is aimed at curbing volatility in the currency market.
In the forwards dollar market, the outstanding net forward purchase at the end October was USD 2.452 billion as against purchase of USD 1.711 billion as of September-end.