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The Reserve Bank of India buys and sells an equal amount of US dollars in November

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The Reserve Bank of India (RBI) bought and sold the equivalent proportion of US dollars in November 2021, according to central bank data.

The RBI bought $8.489 billion in the spot market and sold a similar amount in the market, the RBI’s monthly bulletin for January 2022 released on Monday showed.

By October, the RBI had become a net seller of the US currency after buying $7.755 billion in the spot market and selling $7.855 billion, the data showed.

By November 2020, the RBI had purchased $10.26 billion net in the spot market.

In the 2020-21 financial year, the RBI had bought USD 68.315 billion net in the spot market. It had bought $162.479 billion on the spot market and sold $94.164 billion in the 2020-21 fiscal year, the data showed.

In the dollar futures market, net purchases outstanding at the end of November 2021 stood at $49.106 billion, the same as the previous month, the data showed.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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