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Saturday, December 2, 2023

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


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

The 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 intervening in the markets to curb volatility over the period.

The 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)

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


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