Reserve Bank of India purchased $7.7 billion in April, highest in 2 years

The Reserve Bank of India (RBI) purchased $7.7 billion on a net basis in April through intervention in the foreign exchange market – highest in 22 months.

 

In June 2021, the RBI purchased 18.6 billion on a net basis in the spot market. Latest data shows the RBI purchased $8.4 billion in April, while selling $700 million. 

 

The rupee gained 0.4 per cent in April against the dollar.