 "Reserve Bank remains net buyer of US currency in May; buys $2 billion")
The Reserve Bank of India (RBI) remained net buyer of the US currency in May, after it purchased USD 2.001 billion on net basis from the spot market, the RBI data showed.
In the reporting week, the Reserve Bank of India (RBI) purchased USD 10.143 billion from the spot market and sold USD 8.142 billion, according to the RBI's bulletin for July 2022, released on Saturday.
In April 2022, the central bank net bought USD 1.965 billion. It had purchased USD 11.965 billion and sold USD 10 billion in the spot market 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 FY2022.
In the forward dollar market, the outstanding net purchase at the end of May 2022 stood at USD 49.191 billion, compared to USD 63.826 billion in April, the data showed.
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