 "RBI turns net seller of US currency in June; sells $3.719 bn: Data")
Reserve Bank of India turned net seller of the US currency in June after it sold USD 3.719 billion on a net basis, the central bank data showed.
In the reporting month, the central bank purchased USD 18.96 billion from the spot market and sold USD 22.679 billion, according to the RBI monthly bulletin for August 2022 released on Thursday.
In June 2021, RBI was net buyer of the greenback after it purchased USD 18.633 billion on a net basis from the spot market. In May 2022, the central bank net bought USD 2.001 billion. It had purchased USD 10.143 billion and sold USD 8.142 billion during the month.
During the fiscal 2022, the central bank had net purchased USD 17.312 billion. It had bought USD 113.991 billion and sold USD 96.679 billion in the spot market in FY22.
In the forward dollar market, the outstanding net purchase at the end of June stood at USD 30.856 billion as compared to USD 49.191 billion in May, the data showed.
(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.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app