Live Markets »News & Advice»Market News»Market News Details
Market News Details
Back

RBI net seller of US dollar for 3rd straight month, sells $6.184 bn in June

Press Trust of India/Mumbai 12 Aug 18 | 05:14 PM

Reserve Bank continued to remain a net seller of the US currency for the third consecutive month in June, after it sold $ 6.184 billion of the US dollar in the spot market, data showed.

During the reporting month, the central bank bought $4.020 billion of the US dollar, while sold $10.204 billion in the spot market, according to the recent RBI data.

Related Stories

    No Related Stories Found
Widgets Magazine

In May and April, RBI had net sold $5.767 billion and $2.483 billion of the US dollar, respectively.

In June 2017, the apex bank was net buyer of the US currency, after it had bought $4.971 billion and sold $1.680 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 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 June was $10.689 billion.

The net forward purchase at the end of May was $11.252 billion, RBI said.

Widgets Magazine

Sensex

Company Price Gain (%)
Sun Pharma.Inds.601.656.91
Yes Bank381.752.87
ICICI Bank332.302.17
Axis Bank618.302.15
Reliance Inds.1,210.952.00

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine