Mumbai: Reserve Bank remained net purchaser of dollars for three consecutive months of the current fiscal after it bought $1.92 billion in June from spot market.
The central bank bought $3.95 billion from spot market, while it sold $2.03 billion in the reporting month, RBI said in its monthly bulletin release today.
In April, RBI had net bought $1.34 billion and $554 million in May. Last year in June, the apex bank had net purchased $565 million after it bought $5.53 billion and sold $4.97 billion in spot market.
In FY16, RBI was net purchaser of $10.21 billion when it had bought $63.30 billion and sold $53.09 billion.
In FY15 RBI was net purchaser of $54.84 billion. RBI intervention in the foreign exchange market is aimed at curbing volatility in the currency market.
In the forward dollar market, the outstanding net forward sales was $7.43 billion as of end-June.
