BUSINESS & FINANCE
RBI net sells USD 6.184 bn of US currency in June
Reserve Bank continued to remain net seller of the US currency for the third consecutive month in June, after it sold USD 6.184 billion of the US dollar in the spot market, RBI data showed.
During the reporting month, the central bank bought USD 4.020 billion of the US dollar, while sold USD 10.204 billion in the spot market, according to the recent RBI data.
In May and April, RBI had net sold Rs 5.767 billion and USD 2.483 billion of the US dollar, respectively.
In June 2017, the apex bank was net buyer of the US currency, after it had bought USD 4.971 billion and sold USD 1.680 billion in the spot market.
RBI maintains that its intervention in the foreign exchange market is to curb volatility in the rupee and not to target a level of the domestic currency.
In FY18, the apex had net purchased USD 33.689 billion from the spot market. It had bought USD 52.068 billion from the spot market, while selling USD 18.379 billion.
In FY17, RBI had bought USD 12.351 billion of the US dollar on a net basis.
In the forward dollar market, the outstanding net forward purchase at the end of June was USD 10.689 billion.
The net forward purchase at the end of May was USD 11.252 billion, RBI said.
- India will be back on 7.5% plus growth track this fiscal: Virmani 19 Aug 2018 | PTI
- Intel India trains 99,000 people in artificial intelligence 19 Aug 2018 | PTI
- Rupee might stabilise at 68-69 a dollar: Garg 18 Aug 2018 | PTI
- FCCU shutdown not impacting Jamnagar refining biz:RIL 18 Aug 2018 | PTI
- Infosys CFO Ranganath resigns 18 Aug 2018 | PTI
- India clocked 10.08 pc growth under Manmohan Singh's tenure, shows data 17 Aug 2018 | PTI
- Operators must pay attention to cyber security, reasonableness of charges: Patel 17 Aug 2018 | PTI
- PVR completes acquisition of 71.6% stake of SPI Cinemas 17 Aug 2018 | PTI
- Apollo ties up with Microsoft for AI-powered CDV Risk Score 17 Aug 2018 | PTI
- Jet Airways board to meet on Aug 27 to consider June quarter results 17 Aug 2018 | PTI
Sunday EditionView All
19 Aug 2018 | Kumar Chellappan
A succession war is brewing in the DMK after Karunanidhi’s death, with both Stalin and Alagiri staking a claim to their father’s political legacy. This, along with the churning in the AIADMK after Jayalalithaa’s death, is bound to have an impact on the political landscape of Tamil Nadu in the run-up to 2019 Lok Sabha polls, writes Kumar Chellappan Tamil Nadu politics sans Muthuvel Karunanidhi is like the drama Hamlet without...
STATE EDITIONSView All
19 Aug 2018 | PNS | Ranchi
Yet another girl from the Capital City Khushboo Vijay became the winner of Miss India International Global 2018 and will be representing India next year in Malaysia 2019 for World Finale. The event was held in Guwahati on August 2018...