RBI becomes net seller of US dollar in December 2021; sells $2.92 bn

AgenciesUpdated: Wednesday, February 16, 2022, 09:42 PM IST
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In the reporting month, the RBI bought $7.475 billion and sold $10.392 billion in the spot market, the RBI Bulletin for February 2022 released on Wednesday showed. / Representational image | Photo credit: Reuters

The Reserve Bank of India (RBI) turned net seller of the US currency in December 2021 after it sold $2.917 billion on a net basis in the spot market.

In the reporting month, the RBI bought $7.475 billion and sold $10.392 billion in the spot market, the RBI Bulletin for February 2022 released on Wednesday showed.

In November 2021, the RBI had purchased $8.489 billion from the spot market and sold a similar amount in the market.

In December 2020, the central bank had net purchased $3.991 billion of the US currency from the spot market.

During the FY2020-21, the central bank had net purchased $68.315 billion from the spot market. It had bought $162.479 billion from the spot market and sold $94.164 billion during the financial year 2020-21, the data showed.

In the forward dollar market, the outstanding net purchase at the end of December 2021 was $49.106 billion, same as in the previous month, the data showed.

(With inputs from PTI)

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