RBI net sold $11.14 billion in spot forex market in January: Bulletin

The central bank in the Bulletin said that it purchased $49.15 billion and sold $60.29 billion during the period

The Reserve Bank of India (RBI) sold net $11.14 billion in the spot foreign exchange market in January, according to the central bank’s monthly Bulletin.

The central bank in the Bulletin said that it purchased $49.15 billion and sold $60.29 billion during the period. In December, the central bank had sold a net of $15.15 billion in the spot market.

The RBI Bulletin is a monthly publication that offers insights into the developments in domestic and global economies but doesn’t represent the views of the central bank.

The Indian rupee (INR) depreciated by 0.9 per cent (m-o-m) during February 2025, weighed by heavy FPI outflows. The extent of depreciation of the Indian Rupee, however, was lower than the previous month. In addition, the Indian Rupee remained one of the least volatile major currency, Bulletin added.

The Indian rupee depreciated by 2.4 per cent (m-o-m) in terms of the 40-currency real effective exchange rate (REER) in February 2025 due to depreciation of the Indian rupee in nominal effective terms and narrowing of India’s inflation differential with its major trading partners, RBi bulletin said.