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RBI bought net $4.36 billion in spot forex market in November, shows data

The RBI said it purchased $22.28 billion and sold $17.92 billion in the spot market

reserve bank of india, rbi
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Reuters Mumbai
The Reserve Bank of India (RBI) bought a net of $4.36 billion in the spot foreign exchange market in November, data released on Thursday as part of the central bank's monthly bulletin showed.

The RBI said it purchased $22.28 billion and sold $17.92 billion in the spot market.

The Indian rupee strengthened 1.6% against the dollar in November, logging its biggest monthly rise since August 2021.

The central bank has been intervening in the spot and forwards market to curb exchange rate volatility, according to forex market participants. Despite the RBI's regular interventions, the rupee dropped more

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First Published: Jan 19 2023 | 6:57 PM IST

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