RBI net-seller of dollars in Nov, unwinding $644 million

MUMBAI: The Reserve Bank remained a net seller of dollars in November 2018, as it sold $644 million of the greenback on a net basis in the spot market, according to the latest data from the Central bank. As against this, in November 2017, the RBI had purchased $2.570 billion from the spot market and sold $1.706 billion, while in the reporting month, the monetary authority bought $3.127 billion from the spot market, and sold $3.771 billion, show the data. The rupee had a better run in the past fiscal, while it was one of the worst among its emerging market peers this fiscal year, which explains the reasons for the RBI intervention in the forex market.