The Reserve Bank of India (RBI) was a net purchaser of dollars in the first month of the current fiscal year after it bought $5.87 billion from the spot market.
During the month, the apex bank purchased $7.85 billion from the market and it sold $1.98 billion, RBI data released on Tuesday showed.
In March, the RBI bought $8.752 billion and sold $970 million; thereby becoming a net buyer of $7.782 billion.
In the previous fiscal year, the RBI was net buyer of $8.99 billion, according to the data. In the entire FY14, the RBI bought $52.394 billion and sold $43.402 billion.
In the forward dollar market, the outstanding net forward sales at the end of April stood at $32.062 billion, versus sales of $31.03 billion in the previous month.
The rupee on Tuesday ended at 59.29, nine paise down from the previous close. (Read more)