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RBI net seller of US dollar for 3rd straight month, sells $6.184 bn in June

During the reporting month, the central bank bought $4.020 billion of the US dollar, while sold $10.204 billion in the spot market

Press Trust of India  |  Mumbai 

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Reserve continued to remain a of the US for the third consecutive month in June, after it sold $ 6.184 billion of the in the spot market, data showed.

During the reporting month, the central bought $4.020 billion of the US dollar, while sold $10.204 billion in the spot market, according to the recent RBI data.

In May and April, RBI had net sold $5.767 billion and $2.483 billion of the US dollar, respectively.

In June 2017, the was of the US currency, after it had bought $4.971 billion and sold $1.680 billion in the spot market.

RBI maintains that its intervention in the foreign exchange market is to curb volatility in the rupee and not to target a level of the domestic

In FY18, the apex had net purchased $33.689 billion from the spot market. It had bought $52.068 billion from the spot market, while selling $18.379 billion.

In FY17, RBI had bought $12.351 billion of the on a net basis.

In the forward dollar market, the outstanding net forward purchase at the end of June was $10.689 billion.

The net forward purchase at the end of May was $11.252 billion, RBI said.

First Published: Sun, August 12 2018. 17:14 IST
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