RBI net-buys $4.9 bil­lion worth green­backs in April

DNA (Daily News & Analysis) Mumbai Edition - - FRONT PAGE - —PTI

Mum­bai: Hav­ing been a net seller of the green­back in fis­cal year 19, the Re­serve Bank turned a net buyer of the US dol­lar in the first month of FY20, pur­chas­ing $4.901 bil­lion in April on a net ba­sis from the spot mar­ket, ac­cord­ing to the lat­est data from the mon­e­tary au­thor­ity.

Dur­ing the re­port­ing month, the cen­tral bank bought $7.724 bil­lion and sold $2.823 bil­lion in the spot mar­ket. As against this, in April 2018, it had net sold $2.483 bil­lion after pur­chas­ing $5.536 bil­lion and sell­ing $8.019 bil­lion.

In FY19, the apex bank was a net seller of the dol­lar of­fload­ing as much as $15.377 bil­lion in the mar­ket. It had bought $40.804 bil­lion and sold $56.181 bil­lion in the year to March 2019.

In FY18, RBI had net pur­chased $33.689 bil­lion from the spot mar­ket, tak­ing its to­tal dol­lar pur­chase to $52.068 bil­lion, and sold only $18.379 bil­lion.

In the for­wards dol­lar mar­ket, the out­stand­ing sales at the end April was $18.512 bil­lion, com­pared to a sale of $13.774 bil­lion in March, ac­cord­ing to the cen­tral bank data re­leased Tues­day.

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