RBI net seller of dollars in April, offloads USD 1.14 bn

Mumbai, Jun 10 () The Reserve Bank of India (RBI) was a net seller of the US currency to the tune of USD 1.142 billion in the first month of this fiscal, according to central bank data.

In April, the RBI purchased USD 2.450 billion and sold USD 3.592 billion of the US currency in the spot market.

In the same month of FY20, the central bank was a net buyer of the greenback to the tune of USD 4.901 billion.

It had bought USD 7.724 billion of the US currency from the spot market and sold USD 2.823 billion.

In March 2020, RBI had bought USD 3.984 billion of the US currency and sold USD 8.038 billion in the spot market.

For the full fiscal 2019-20, the central bank was a net purchaser of the US dollar at USD 45.097 billion. It had bought USD 72.205 billion and sold USD 27.108 billion in the spot market.

In the forward dollar market, the outstanding sales at the end of April was USD 1.739 billion, compared to sales of USD 4.939 billion in March, the data showed. HV ABM ABM