RBI sold net $10.36 bn in spot foreign exchange market in Sept: Bulletin

MUMBAI (Reuters) – The Reserve Bank of India (RBI) sold a net of $10.36 billion in the spot foreign exchange market in September, the central bank said in its latest monthly bulletin released on Friday.

The RBI said it bought $23.27 billion and sold $33.62 billion in the spot market.

The rupee tumbled from around 79.5 per dollar to more than 81.5 in September. It plunged to a record low of 83.29 in October, with traders citing instances of RBI intervening in the markets to curb volatility over the period.

The RBI said its net forward dollar holdings was $10.42 billion as of end-September, compared with $20.16 billion as of end-August.

The central bank has sold a net of $54 billion since the beginning of the year.

(Reporting by Anushka Trivedi in Mumbai; Editing by Savio D’Souza)

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