Reserve Bank remains net seller of dollars, sells $771 million in Jan

Mumbai: The Reserve Bank of India (RBI) remained a net seller of the US currency in January 2022, selling $771 million in the spot market.

In the reporting month, the central bank bought $6.548 billion and sold $7.319 billion in the spot market, the Reserve Bank of India (RBI) Bulletin for March 2022 released on Thursday showed.

In December 2021, RBI had net sold $2.917 billion in the spot market.

In January 2021, RBI had net purchased $2.854 billion from the spot market -- buying $18.225 billion and selling $15.371 billion.

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

In the forward dollar market, the outstanding net purchase at the end of January 2022 was $49.877 billion, compared to $49.106 billion December 2021.