Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now

You can switch off notifications anytime using browser settings.
Stock Analysis, IPO, Mutual Funds, Bonds & More

RBI remains net seller of dollar in Aug; sells $4.1 billion

The central bank had purchased $615 million and sold $4.687 billion in the spot market.

Updated: Oct 11, 2019, 08.24 PM IST
Getty Images
Mumbai: The Reserve Bank of India (RBI) remained net seller of the US dollar after it sold $4.072 billion in August on a net basis in the spot market, RBI data showed.

During the reporting month, the Central bank had purchased $615 million and sold $4.687 billion in the spot market.

In July 2019, the RBI had turned a net seller of the US dollar for first time in this fiscal, after it sold $93 million on a net basis.

In June 2019, RBI had net purchased $2.463 billion, as it bought $4.434 billion and sold $1.971 billion.

In May and April, the Central bank had net purchased $2.538 billion and $4.901 billion, respectively.

In August 2018, the apex bank had net sold $2.323 billion.

In FY19, the apex bank was a net seller of the dollar offloading $15.377 billion in the spot market. It had bought $40.804 billion and sold $56.181 billion in the year to March 2019.

In FY18, RBI had net purchased $33.689 billion from the spot market, taking its total dollar purchase to $52.068 billion, and sold only $18.379 billion.

In the forward dollar market, the outstanding sales at the end of August were $7.848 billion, compared to a sale of USD 8.609 billion in July, the data showed.

Also Read

RBI satisfied with pace of monetary transmission

RBI has not put banks on alert: Shaktikanta Das

RBI reorganises supervision & regulatory departments

RBI to retain dovish bias going forward

Government borrowing may rise after RBI paused

Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links

Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service