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RBI sold $95 million in spot forex market in October

RBI sold $95 million in spot forex market in October

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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.

Story first published on: December 10, 2012 20:34 (IST)

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