The Reserve Bank has remained net purchaser of the dollar for the second consecutive month in January, having bought $293 million on a net basis from the spot market, according to the latest data.
In the reporting month, RBI bought $1.025 billion and sold $732 million in the spot market.
The central bank had turned net buyer of dollars for the first time in this fiscal in December buying $607 million of the greenback.
In January 2018, RBI was a net buyer of $7.364 billion, after it had purchased $7.953 billion from the market and sold $589 million.
In FY18, the apex bank had net purchased $33.689 billion from the spot market, taking its total dollar purchase to $52.068 billion, and sold only $18.379 billion, this helped the country for the first time scale a life-time peak of $426.028 billion for the week to April 13, 2018 in the foreign exchange reserves.
But since then, the forex kitty has been fluctuating and mostly sliding. The forex reserves stood at $401.77 billion for the fortnight ended March 1, 2019.
