RBI turns net purchaser of US currency in February

Reserve Bank of India (RBI) turned net buyer of the US dollar in February 2022, after it bought USD 771 million on a net basis from the spot market.

In the reporting month, the central bank bought USD 5.946 billion and sold USD 5.175 billion in the spot market, RBI said in its monthly bulletin for April 2022.

In January 2022, the central bank sold USD 771 million of US currency on a net basis. It purchased USD 6.548 billion and sold USD 7.319 billion in the spot market during the month.

In February 2021, RBI had not sold USD 1.219 billion in the spot market.

During FY 2020-21, the central bank had just purchased USD 68,315 billion from the spot market. It had bought USD 162.479 billion from the spot market and sold USD 94.164 billion during the fiscal 2020-21, the data showed.

In the forward dollar market, the outstanding net purchase at the end of February 2022 was USD 49.106 billion, as compared to USD 49.877 billion in January 2022, the data showed.

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