India centeral bank sold net Rs 1.9 billion in spot forex market in November - bulletin
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The Reserve Bank of India (RBI) sold $1.93 billion, on a net basis, in the spot foreign exchange market in November, data released on Thursday as part of the central bank's monthly bulletin showed.
The RBI said it purchased nearly $35 billion and sold $36.9 billion. In October, the central bank had sold a net of $310 million in the spot market.
The rupee depreciated by 0.2% against the dollar over November, during which it hit a lifetime low of 82.42.
The RBI's net outstanding forward sales stood at $11.9 billion as of end-November, compared with net forward sales of $$14.6 billion at the end of the previous month, the data showed.
The central bank intervenes in the spot and forwards market to curb exchange rate volatility of the rupee.
