RBI turns net dollar seller for first time in FY'15 in August

After remaining a net purchaser of US currency for the first four months of the current fiscal, the Reserve Bank sold USD 511 million dollars in August from the spot market.
It bought USD 3.964 billion of the US currency from the market while it sold USD 4.475 billion in August. In July, the apex bank purchased USD 9.348 billion and sold USD 3.895 billion, thereby becoming net buyer of USD 5.453 billion from the spot market.
RBI net bought USD 2.642 billion in June, USD 1.786 billion in May and USD 5.870 billion in April.
In August last year also, the RBI was a net seller of the greenback after it sold USD 3.188 billion and bought USD 724 million from the spot market.

During the entire FY14, RBI net purchased USD 8.992 billion. It had bought USD 52.394 billion and sold USD 43.402 billion in the previous fiscal.
The central bank intervenes in the foreign exchange market to contain volatility in the rupee.
In the forwards dollar market, the outstanding net forward purchase at the end of August stood at USD 5.818 billion as against purchase of USD 5.397 billion in the previous month.