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Reserve Bank of India turns net buyer of dollars in April, shows data

According to the latest data, the RBI purchased $1.96 billion in April

Topics
Reserve Bank of India | foreign exchange | Indian rupee

Manojit Saha 

Mumbai: A security personal outside Reserve Bank of India (RBI) headquarters, in Mumbai, Wednesday, June 8, 2022. (PTI Photo
The rupee has depreciated 4.8 per cent against the dollar in 2022.

After selling $20 billion in March in the market in March, the turned net buyer of dollars in April.

According to the latest data, the RBI purchased $1.96 billion in April.

chart

The central bank has been aggressively intervening in the market since the war broke out in Europe in late February, following which most emerging market currencies are feeling the heat as investors rushed for safe haven assets.

The rupee has depreciated 4.8 per cent against the dollar in 2022.

The Indian unit traded in a tight range on Thursday and ended the day at 78.08/$ as compared to Wednesday’s closing of 78.07/$. It was at yet another all-time low.

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First Published: Fri, June 17 2022. 00:43 IST
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