Net foreign inflows in India totalled up to $5.7 billion
Reserve Bank of India (Photo: PTI)
Mumbai: The Reserve Bank of India bought a net $14.51 billion in the forward market in May compared with net forward dollar sales of $6.09 billion in April, according to Reuters calculations based on data available on the central bank web site. The central bank intervened heavily in May to mop up excess dollar inflows.
Net foreign inflows into India totalled $5.7 billion in May compared to $75.89 million in April on hopes tied to the election of Narendra Modi as India's prime minister.
The rupee touched a 11-month high of 58.33 to the dollar on May 23 boosted by these strong inflows.
( Source : reuters )
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