RBI remains net seller of US dollars in January; sells $771 million

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The Reserve Bank of India (RBI) remained a net seller of the US currency in January 2022, selling USD 771 million in the spot market.

In the reporting month, the central bank bought USD 6.548 billion and sold USD 7.319 billion in the spot market, the Reserve Bank of India (RBI) Bulletin for March 2022 released on Thursday showed.

In December 2021, RBI had net sold USD 2.917 billion in the spot market.

In January 2021, RBI had net purchased USD 2.854 billion from the spot market -- buying USD 18.225 billion and selling USD 15.371 billion.

During FY 2020-21, RBI had net purchased USD 68.315 billion from the spot market. It had bought USD 162.479 billion and sold USD 94.164 billion during the fiscal, the data showed.

In the forward dollar market, the outstanding net purchase at the end of January 2022 was USD 49.877 billion, compared to USD 49.106 billion December 2021.