RBI bought $2 billion on net basis in May

18 Jul 2022 , 10:25 AM

After purchasing USD 2.001 billion on a net basis from the spot market in May, the Reserve Bank of India (RBI) continued to be a net buyer of US currency, according to RBI data.

According to the Reserve Bank of India’s (RBI) bulletin for July 2022, which was made public on Saturday, during the reporting week, the RBI bought USD 10.143 billion on the spot market and sold USD 8.142 billion.

The central bank net purchased USD 1.965 billion in April 2022. During the month, it made USD 11.965 billion in purchases and USD 10 billion in sales in the spot market. The central bank recorded net purchases of USD 17.312 billion during the fiscal year 2022. In FY2022, it traded on the spot market for USD 113.991 billion in purchases and USD 96.679 billion in sales.

According to the statistics, the outstanding net buys on the forward dollar market at the end of May 2022 was USD 49.191 billion as opposed to USD 63.826 billion in April.