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BW Businessworld

RBI Remains Net Seller Of US Dollar In March; Sells USD 5.699 Bn

The central bank had net purchased USD 45.097 billion. It had bought USD 72.205 billion and sold USD 27.108 billion in the spot market.

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The Reserve Bank of India (RBI) remained a net seller of the US currency in March after it sold USD 5.699 billion in the spot market on a net basis, according to the central bank data.

While the central bank purchased USD 20.25 billion from the spot market, it sold USD 25.949 billion in March 2021, the monthly bulletin for May 2021 released by the RBI on Monday showed.

In February 2021 too, the apex bank was the net seller of the US currency after it had bought USD 23.352 billion and sold USD 24.571 billion in the spot market.

In FY2019-20, the central bank had net purchased USD 45.097 billion. It had bought USD 72.205 billion and sold USD 27.108 billion in the spot market.

In the forward dollar market, the outstanding net purchase at the end of March 2021 was USD 72.751 billion, compared to a net purchase of USD 73.201 billion in February 2021, the data showed. 

(PTI)