SaltWire's Atlantic regional weather forecast for October 19, 2023 | SaltWireMUMBAI - The Reserve Bank of India sold a net $3.86 billion in the spot foreign exchange market in August, according to data released on Thursday as part of the central bank's monthly bulletin. The RBI said it purchased $500 million and sold $4.36 billion during the period. In July, the central bank had bought a net of $3.47 billion in the spot market. The Indian rupee depreciated by 0.
The RBI's net outstanding forward purchase stood at $10.07 billion as of end-August, compared with a net purchase of $19.47 billion at the end of the previous month, the data showed.The RBI has been intervening in the spot and forwards market over the last few weeks to prevent the rupee from weakening past its lifetime low of 83.29 against the dollar, traders said.
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