RBI remains net purchaser of US dollar in May; buys $5.84 bn

The Reserve Bank of India (RBI) remained net buyer of the US dollar in May 2021, after it net purchased USD 5.842 billion from the spot market, according to data from the central bank.

In the reporting month, the RBI purchased USD 7.142 billion while sold USD 1.3 billion in the spot market, the monthly RBI bulletin for July 2021, released on Thursday, showed.

In April this year, the RBI had net bought USD 4.212 billion. It had purchased USD 8.182 billion and sold USD 3.97 billion.

In May last year, the RBI had net purchased USD 4.363 billion.

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

In the forward dollar market, the outstanding net purchase at the end of May 2021 was USD 59.852 billion, compared with a net purchase of USD 64.944 billion in March 2021, the data showed.

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