RBI net bought dollar in forex market for second month in December

From June to October, the central bank sold dollars every month

The Reserve Bank of India (RBI) net purchased $3.8 billion in the foreign exchange market in December 2022, marking the second consecutive month in which the central bank acquired dollars.

The RBI bought $12.81 billion and sold $8.97 billion in the currency market in Dece­mber, data in the central bank’s February 2023 Bulletin showed. The RBI had net purchased US dollars worth $4.36 billion in the domestic currency market in November 2022.

The RBI’s outstanding forwards book also rose in December, climbing to $10.96 billion from $8.5 billion in November. This suggests that the RBI spread out its dollar buying