Reserve Bank of India buys net $6.93 bn in currency market in November

The Central Bank of India bought a net $6.93 billion in the foreign exchange market in November, marginally below the $7.1 billion it had purchased in the previous month, the monthly bulletin showed.

The Reserve Bank of India (RBI) bought $7.46 billion and sold $530 million in the market in November, it said in the bulletin which was released on Saturday.

The partially convertible rupee had moved in a wide range of 70.5275 to 72.2450 per dollar during the month. Foreign investors had bought a net $3.54 billion worth of equities and sold 319.48 million worth of bonds during the period.

In the forwards market, the RBI said it had a net outstanding sell position of $6.1 billion as of end-November, down from $7.47 billion at the end of the previous month.

The RBI did not buy or sell any currency in the futures market, the bulletin showed.