RBI turns net buyer of US currency in April; buys $1.9 bn

The Reserve Bank of India (RBI) turned net purchaser of the US currency in April, after it bought USD 1.965 billion from spot market, according to RBI's monthly bulletin for June.

In the reporting month, RBI bought USD 11.965 billion and sold USD 10 billion in the spot market, the bulletin released on Thursday showed.

In March 2022, RBI had net sold USD 20.101 billion. It had purchased USD 4.315 billion and sold USD 24.416 billion in the spot market, the data showed.

During the fiscal 2022, the central bank had net purchased USD 17.312 billion. It had bought USD 113.991 billion and sold USD 96.679 billion in the spot market in FY22.

In the forward dollar market, the outstanding net purchase at the end of April 2022 was USD 63.826 billion, compared to a purchase of USD 65.791 billion in March 2022, the data showed.