Reserve Bank of India (RBI) turned net buyer of the US dollar in February 2022, after it bought $771 million on a net basis from the spot market.
In the reporting month, the central bank bought $5.946 billion and sold $5.175 billion in the spot market, RBI said in its monthly bulletin for April 2022.
In January 2022, the central bank sold $771 million of the US currency on a net basis. It purchased $6.548 billion and sold $7.319 billion in the spot market during the month.
In February 2021, RBI had net sold $1.219 billion in the spot market.
During FY 2020-21, the central bank had net purchased $68.315 billion from the spot market. It had bought $162.479 billion from the spot market and sold $94.164 billion during the fiscal 2020-21, the data showed.
In the forward dollar market, the outstanding net purchase at the end of February 2022 was $49.106 billion, as compared to $49.877 billion in January 2022, the data showed.