 "RBI, Reserve Bank of India")
Mumbai: A man walks past the RBI logo at its headquarters, in Mumbai, Wednesday, April 9, 2025. RBI Governor Sanjay Malhotra Wednesday announced the first bi-monthly monetary policy of the current fiscal year.(Photo: PTI)
The Reserve Bank of India (RBI) sold a net of $1.6 billion in the spot foreign exchange market in February, data released on Tuesday as part of the central bank’s monthly bulletin showed.
The RBI said it purchased $45.03 billion and sold $46.6 billion. In January, the central bank had sold a net of $11.1 billion in the spot market.
The Indian rupee hit a record low of 87.95 in February, hurt by portfolio outflows, and uncertainty about U.S.
The RBI’s net outstanding forward sale stood at $88.7 billion as of end-February, compared with a net sale of $77.5 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.
First Published: Apr 22 2025 | 5:09 PM IST