Homebusiness News

    RBI turns net seller of US currency in March; sells $20.101 billion

    RBI turns net seller of US currency in March; sells $20.101 billion

    RBI turns net seller of US currency in March; sells $20.101 billion
    Profile image

    By PTI  IST (Updated)

    Mini

    According to RBI's monthly report for May 2022, the Reserve Bank of India became a net seller of the US dollar in March, selling USD 20.101 billion on a net basis in the spot market.

    Reserve Bank of India turned net seller of the US currency in March after it sold $20.101 billion on a net basis in the spot market, according to RBI’s monthly bulletin for May 2022.
    In the reporting month, the central bank purchased $4.315 billion from the spot market and sold $24.416 billion, the bulletin released on Tuesday showed.
    In March 2021, RBI had net purchased $5.699 billion of the greenback. In February 2022, RBI had net bought $771 million of the US currency after it purchased $5.946 billion and sold $5.175 billion in the spot market.
    In the forward dollar market, the outstanding net purchase at the end of March 2022 was $65.791 billion, as compared to $49.106 billion in February 2022, the data showed.
    During FY 2020-21, RBI had net purchased $68.315 billion from the spot market. It had bought $162.479 billion from the spot market and sold $94.164 billion during the fiscal 2020-21, the data showed.
    Also read:
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng