Reserve Bank of India net buyer of US dollars in November

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In November, the central bank bought $17.787 billion from the market. In November, the central bank bought $17.787 billion from the market.
SummaryIn November, the central bank bought $17.787 billion from the market.

The Reserve Bank was a net purchaser of dollars in November for the second consecutive month.

In November, the central bank bought USD 17.787 billion from the market while it sold USD 7.7 billion, thereby becoming a net buyer of the greenback in November, RBI data showed.

In October, the RBI, after a gap of five months, became the net buyer of dollars, buying USD 9.510 billion and selling USD 5.58 billion during the month.

In the fiscal, the RBI first became net purchaser of dollars in April when it bought USD 3.29 billion and sold USD 2.78 billion.

Between May and September, the RBI was net seller of the US currency on a monthly basis when the rupee was in a free-fall territory.

The rupee started its slide towards the middle of May after US Fed Chairman Ben Bernanke hinted at withdrawing its easy money policy.

The rupee depreciated nearly 30 per cent between May and August. It touched a life-time low of Rs 68.85 during intra-day trades on August 28. However, the rupee closed the year 2013 with an 11 per cent drop.

In September, RBI remained a net seller of the greenback.

In July, it bought mere USD 50 million from the market, while it sold USD 6.03 billion in the month.

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