RBI sells net USD 4.05 bn of American currency in March in spot market

Mumbai, May 14 () The Reserve Bank of India (RBI) turned net seller of the US dollar after it sold USD 4.054 billion in March on a net basis in the spot market, recent RBI data showed.

In the reporting month, the RBI had bought USD 3.984 billion of the US currency and sold USD 8.038 billion in the spot market, RBI data showed.

In March 2019, the central bank was net buyer of the greenback as it had purchased USD 9.408 billion. It bought USD 10.306 billion from the spot market and sold USD 898 million.

In February, the RBI had bought USD 10.604 billion of the US currency and sold USD 1.460 billion in the spot market.

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

In the forward dollar market, the outstanding sales at the end of March was USD 4.939 billion, compared to a sale of USD 2.295 billion in February, the data showed. HV MKJ RVK