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RBI remains net seller of US dollar in July, sells $1.87 billion

RBI remains net seller of US dollar in July, sells $1.87 billion
The Reserve Bank of India (RBI) continued to be a net seller of the US dollar for the fourth consecutive month in July, after it sold $1.874 billion of greenback in the spot market, RBI data showed.
In the reporting month, the central bank purchased $4.129 billion, while sold $6.003 billion in the spot market, the recent RBI data showed.
In June, May and April, the RBI had net sold $6.184 billion, $5.767 billion and $2.483 billion of the US dollar, respectively.
In July 2017, the apex bank was the net buyer of the US currency, as it had bought $4.893 billion, while sold $1.940 billion in the spot market.
RBI maintains that its intervention in the foreign exchange market is to curb volatility in the rupee and not to target a level of the domestic currency.
In FY18, the apex bank had net purchased $33.689 billion from the spot market. It had bought $52.068 billion from the spot market, while selling $18.379 billion.
In FY17, RBI had bought $12.351 billion of the US dollar on a net basis.
In the forward dollar market, the outstanding net forward purchase at the end of July remained same as in June at $10.689 billion, RBI data showed.

Market Movers

CompanyPriceChng%Chng
Tata Motors295.55 -7.00 -2.31
Grasim1,549.50 -32.55 -2.06
Larsen1,611.75 -30.40 -1.85
Adani Ports680.05 -11.75 -1.70
Tech Mahindra1,131.00 -17.60 -1.53
CompanyPriceChng%Chng
Larsen1,612.00 -29.55 -1.80
HUL2,359.25 -19.40 -0.82
Reliance2,105.20 -15.80 -0.74
Asian Paints3,083.20 -21.25 -0.68
NTPC118.50 -0.80 -0.67
CompanyPriceChng%Chng
Tata Motors295.55 -7.00 -2.31
Grasim1,549.50 -32.55 -2.06
Larsen1,611.75 -30.40 -1.85
Adani Ports680.05 -11.75 -1.70
Tech Mahindra1,131.00 -17.60 -1.53
CompanyPriceChng%Chng
Larsen1,612.00 -29.55 -1.80
HUL2,359.25 -19.40 -0.82
Reliance2,105.20 -15.80 -0.74
Asian Paints3,083.20 -21.25 -0.68
NTPC118.50 -0.80 -0.67

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.4000-0.0600-0.08
Euro-Rupee87.5450-0.0830-0.09
Pound-Rupee102.3880-0.0780-0.08
Rupee-100 Yen0.6730-0.0030-0.44