RBI becomes net seller of US dollars in Oct; sells $100 million

Mumbai: The Reserve Bank of India (RBI) turned net seller of the US currency in October 2021, after it sold $100 million on a net basis in the spot market, the central bank's data showed.

In the reporting month, the central bank had bought $7.755 billion from the spot market and sold $7.855 billion, showed the monthly RBI bulletin for December 2021, released on Wednesday.

In September 2021, RBI had net bought $791 million. It had purchased $9.169 billion and sold $8.378 billion in the spot market, the data showed.

In October 2020, the RBI had net bought $15.64 billion from the spot market. During the financial year 2020-21, the RBI 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 fiscal 2020-21, the data showed.

In the forward dollar market, the outstanding net purchase at the end of October 2021 was $49.106 billion, as against net purchase of $49.606 billion in the previous month, the data showed.