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RBI turns net seller of US dollar in April

Press Trust of India  |  Mumbai 

After remaining of the US dollars for past many months, the (RBI) became in April, after it sold USD 2.483 billion of the US in the spot market, according to its data.

During the reporting month, the bought USD 5.536 billion of dollars from the spot market, while it sold USD 8.019 billion.

In April 2017, RBI was of the US as it had bought USD 1.751 billion and sold USD 1.185 billion in the spot market.

In March this year, it was as it had purchased USD 3.328 billion, and sold USD 2.332 billion.

RBI has always said that its intervention in the to curb volatility in the rupee and not to target a level of the domestic

In FY18, the apex had net purchased USD 33.689 billion from the spot market. It had bought USD 52.068 billion from the spot market, while selling USD 18,379 billion.

In FY17, RBI had bought USD 12.351 billion of dollars on a net basis.

In the forward dollar market, the outstanding net forward purchase at the end of April was USD 17.393 billion.

The net forward purchase at the end of March was USD 20.853 billion, RBI said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 11 2018. 19:15 IST