RBI maintains its position as net buyer of US currency in September: Report

In the reporting month, the central bank had purchased USD 9.169 billion and traded USD 8.378 billion in the spot market, the monthly RBI bulletin for November 2021, published on Monday, revealed.

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The Reserve Bank of India (RBI) continued as the net buyer of the US currency in September 2021, after it bought USD 791 million on a net basis from the spot market. In the reporting month, the central bank had purchased USD 9.169 billion and traded USD 8.378 billion in the spot market, the monthly RBI bulletin for November 2021, published on Monday, revealed.

In August 2021, RBI had net obtained USD 3.747 billion. It had acquired USD 10.887 billion and sold USD 7.14 billion in the spot market during the month. In September 2020, RBI had net acquired USD 8.172 billion.

During FY 2020-21, RBI had net acquired USD 68.315 billion from the spot market. The data revealed that it had received USD 162.479 billion from the spot market and sold USD 94.164 billion during fiscal 2020-21. In the forward dollar market, the maximum net purchase at the end of September 2021 was USD 49.606 billion, the same as the previous month, the data showed.