Business Standard

RBI bought net $6.93 billion in spot forex market in July: Bulletin data

RBI's net outstanding forward sales stood at $9.1 billion as of end-July, compared with a net sales of $15.84 billion at the end of the previous month, the data showed

RBI, Reserve Bank of India

Reserve Bank of India | (Photo: Shutterstock)

Reuters Mumbai

Listen to This Article

The Reserve Bank of India (RBI) bought a net of $6.93 billion in the spot foreign exchange market in July, data released on Friday as part of the central bank's monthly bulletin showed.
 
The RBI said it purchased $23.57 billion and sold $16.64 billion. In June, the central bank had sold a net of $2.11 billion in the spot market.
 

Click here to connect with us on WhatsApp

The Indian rupee depreciated by 0.4 per cent against the dollar in July, the worst since March, and traded in a range of 83.37 to 83.75.
 
The RBI's net outstanding forward sales stood at $9.1 billion as of end-July, compared with a net sales of $15.84 billion at the end of the previous month, the data showed.
 
 
The central bank intervenes in the spot and forwards market to curb exchange rate volatility.
 
The rupee settled at 83.5625 on Friday, and gained nearly 0.4 per cent week-on-week, its strongest weekly rise this year.
 
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 20 2024 | 5:41 PM IST

Explore News