RBI bought net $4.50 billion in spot foreign exchange market in June

The RBI purchased $7.79 billion and sold $3.28 billion, the bulletin showed. In May, the central bank had bought a net of $7.37 billion in the spot market.

 

The Indian rupee appreciated by 0.7% against the dollar in June, having traded in a range of 81.8575 to 82.6800.

 

The RBI net outstanding forward purchase stood at $19.47 billion as of end-June, compared with a net purchase of $19.27 billion at the end of the previous month, the data showed.

 

The central bank intervenes in the spot and forwards market to curb exchange rate volatility. The rupee closed at a record closing low of 83.1475 to the dollar on Thursday.