RBI remains net purchaser of US dollar in January, buys $2.854 billion

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Mumbai: The Reserve Bank of India (RBI) continued to remain a net buyer of the US dollar in January after it bought $2.854 billion from the spot market, the data showed. In the reporting month, RBI purchased $18.225 billion and sold $15.371 billion in the spot market, the central bank said in its monthly bulletin for March 2021.

In December 2020, RBI net purchased $3.991 billion from the spot market. In January 2020, RBI was a net buyer of $10.266 billion. It had purchased $11.486 billion and sold $1.22 billion during the month.

In FY20, the central bank had net purchased $45.097 billion. It had bought $72.205 billion and sold $27.108 billion in the spot market.

In the forward dollar market, the outstanding net purchase at the end of January was $47.383 billion, compared with net purchase of $39.792 billion in December, the data showed.