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RBI sold $95 million in spot forex market in October

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RBI sold $95 million in spot forex market in October
Mumbai:

The Reserve Bank's net dollar sales in the spot forex market stood at $95 million in October, up from $10 million in the previous month, RBI data showed today.

As per the data of Monthly Bulletin for December 2012, the central bank in October purchased USD 1.05 billion while sold $1.15 billion.

The RBI intervenes in the forex market to arrest any excess currency volatility.

In the forward dollar market, the outstanding net forward sales by RBI stood at $14.08 million compared to $14.05 million in the previous month.

The rupee today closed marginally down at 54.48 against the US currency amid flat stock markets and recovery in dollar against major world currencies.



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