RBI sold net $2.3 bn in forex mkt; dollar purchases stood at $5.7 bn in Aug

The Reserve Bank of India sold a net $2.34 billion rupees in the foreign exchange market in August versus $1.87 billion in July, its monthly bulletin showed on Thursday.

The net dollar purchases in the forward market stood at $5.7 billion as of end-August, it said.

The rupee started hitting a series of record lows in late July and moved in a wide band of 68.26 to 71.01 per dollar in August. On Thursday, the unit was last traded at 74.14 per dollar versus its previous close of 74.21 after hitting a life low of 74.4850 early in the session.