Reserve Bank buys $7.205 billion in July

Mumbai: The Reserve Bank of India (RBI) continued to remain net buyer of the US dollar in July 2021, after it net purchased $7.205 billion from the spot market, according to the latest data from the RBI.

In the reporting month, the central bank purchased $16.16 billion while sold $8.955 billion in the spot market, the monthly RBI bulletin for September 2021, released on Thursday, showed.

In June 2021, the RBI net purchased $18.633 billion. It had bought $21.923 billion and sold $3.29 billion during the month. In July last year, the central bank had net bought $15.973 billion.

During 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 July 2021 was $49.01 billion, compared with a net purchase of $49.573 billion in June 2021, the data showed.