The Reserve Bank of India (RBI) remained a net seller of the US currency in January 2022, selling $771 million in the spot market.
In the reporting month, the central bank bought $6.548 billion and sold $7.319 billion on the spot market, according to the March 2022 Bulletin of the Reserve Bank of India (RBI) published Thursday.
By December 2021, RBI had netted $2.917 billion in spot sales.
By January 2021, RBI had netted $2.854 billion on the spot market — bought $18.225 billion and sold $15.371 billion.
During FY 2020-21, RBI had netted $68.315 billion in spot purchases. It had bought $162.479 billion and sold $94.164 billion during the fiscal year, the data showed.
In the foreign exchange futures market, net purchase outstanding at the end of January 2022 was USD 49.877 billion, compared to USD 49.106 billion in December 2021.
This post RBI remains net seller of US dollars in January; sells USD 771 million was original published at “https://www.zeebiz.com/india/news-rbi-remains-net-seller-of-us-dollars-in-january-sells-usd-771-million-181134”