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Oct 26, 2012, 09.25 PM IST
The RBI's weekly data today seemed to confirm what the markets have long suspected. The RBI bought dollars when they became as cheap at 52.
In data that came out today the RBI said its total FX reserves have gone up by USD 351 million. Strictly speaking, dollar assets can go up due to currency revaluation as well. That is when dollar falls vis-à-vis the euro and yen, the dollar value of India FX assets look higher.
Yet a dipstick survey of traders in the market indicated that the RBI probably did buy dollars in the week to October 19, as it probably did in the first week of October.
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