Rbi becomes a net buyer of the US currency in February

The Reserve Bank of India (RBI) became a net buyer of US dollars in February 2022, after buying $771 million on a net basis in the spot market. During the reporting month, the central bank bought $5.946 billion and sold $5.175 billion in the spot market, RBI said in its April 2022 monthly bulletin.

In January 2022, the central bank sold $771 million of US currency on a net basis. It bought $6.548 billion and sold $7.319 billion in the spot market during the month. By February 2021, RBI had sold $1.219 billion net in the spot market.

In the 2020-21 fiscal year, the central bank had net purchased $68.315 billion in the spot market. It had bought $162.479 billion on the spot market and sold $94.164 billion in the 2020-21 fiscal year, the data showed.

In the dollar futures market, outstanding net purchases at the end of February 2022 were $49.106 billion, down from $49.877 billion in January 2022, the data showed.

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(Edited by : Anand Singha)