RBI remains net purchaser of US dollar in June, buys USD 9.814 bn

The Reserve Bank of India (RBI) remained net purchaser of the US currency for the second consecutive month in June after it bought USD 9.814 billion of greenback on a net basis, according to RBI data.

The Reserve Bank of India (RBI) remained net purchaser of the US currency for the second consecutive month in June after it bought USD 9.814 billion of greenback on a net basis, according to RBI data. During the reporting month, the RBI had bought USD 14.847 billion from the spot market while it sold USD 5.033 billion, RBI data showed.

In May, the RBI had bought USD 4.663 billion and sold USD 300 million in the spot market. It had net purchased USD 4.363 billion in May. In April, the central bank had sold USD 1.142 billion on a net basis.

The RBI was a net purchaser of the greenback at USD 2.463 billion in June 2019. In FY20, the central bank net purchased USD 45.097 billion. It had bought USD 72.205 billion while sold USD 27.108 billion in the spot market. In the forward dollar market, the outstanding net purchase at the end of June was USD 2.459 billion, compared to a sale of USD 1.958 billion in May, the data showed.

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