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RBI remains net purchaser of US dollar in November, buys $10.261 billion

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The Reserve Bank of India (RBI) continued to remain a net buyer of the US currency in November after it bought USD 10.261 billion from the spot market, data showed.

During the reporting month, the central bank purchased $14.289 billion and sold $4.028 billion, according to the monthly bulletin released by the RBI for January.

In October this year, though the RBI had purchased $15.64 billion from the spot market, it did not sell the US currency.

In November 2019, the RBI had bought $7.458 billion and sold $530 million in the spot market.

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 November was $28.344 billion, compared to $13.556 billion in October, the data showed.