After remaining net buyer of the U.S. dollar for the past many months, the Reserve Bank of India (RBI) became a net seller in April, after it sold $2.483 billion of the U.S. currency in the spot market, according to its data.
During the reporting month, the apex bank bought $5.536 billion of dollars from the spot market, while it sold $8.019 billion.
In April 2017, the RBI had been a net buyer of the U.S. currency as the central bank had bought $1.751 billion and sold $1.185 billion in the spot market.
In March this year, it was a net seller as it had purchased $3.328 billion, and sold $2.332 billion.