RBI remains net purchaser of US dollars in June, buys $9.814 billion

The Reserve Bank of India (RBI) remained net purchaser of the US currency for the second consecutive month in June after it bought $9.814 billion of the greenback on a net basis, according to RBI data.

During the reporting month, the RBI had bought $14.847 billion from the spot market while it sold $5.033 billion, RBI data showed.

In May, the RBI had bought $4.663 billion and sold $300 million in the spot market. It had net purchased $4.363 billion in May.

In April, the central bank had sold $1.142 billion on a net basis.

The RBI was a net purchaser of the greenback at $2.463 billion in June 2019.

In FY20, the central bank net purchased $45.097 billion. It had bought $72.205 billion while sold $27.108 billion in the spot market.

In the forward dollar market, the outstanding net purchase at the end of June was $2.459 billion, compared to a sale of $1.958 billion in May, the data showed.