RBI remains net seller of $ in Aug; sells $4.072 bn

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.