RBI Net Purchaser Of Dollars In June, Buys $1.92 Billion

Mumbai: The Reserve Bank of India remained a net purchaser of dollars for three consecutive months of the current fiscal year after it bought $1.92 billion in June from the spot market.

The central bank bought $3.95 billion from spot market, and sold $2.03 billion in the reporting month, it said in its monthly bulletin release on Wednesday.

In April, the RBI had net bought $1.34 billion and $554 million in May.

Last year in June, the apex bank had net purchased $565 million after it bought $5.53 billion and sold $4.97 billion in spot market.

In FY16, the RBI was net purchaser of $10.21 billion when it had bought $63.30 billion and sold $53.09 billion.

In FY15, the RBI was a net purchaser of $54.84 billion.

The RBI intervention in the foreign exchange market is aimed at curbing volatility in the currency market.

In the forward dollar market, the outstanding net forward sales was $7.43 billion as of end-June.