December saw the RBI buy net $2.067 billion in the spot FX market, according to Bulletin

December saw the RBI buy net $2.067 billion in the spot FX market, according to Bulletin

According to the central bank, during that time it sold $29.663 billion and purchased $31.73 billion.

The central bank sold $1.929 billion in net value on the spot market in November.

As to the central bank's monthly bulletin, the Reserve Bank of India (RBI) procured a net amount of $2.067 billion in the spot foreign currency market during December.

The central bank said in the bulletin that it sold $29.663 billion and purchased $31.73 billion over the time. The central bank sold $1.929 billion in net value on the spot market in November.

The monthly RBI Bulletin offers analysis on changes in both the local and international economies, although it does not reflect the central bank's opinions.

In January 2024, the value of the Indian rupee (INR) relative to the US dollar increased by a small 0.2% (mam). Additionally, INR had the lowest volatility during the month amongst the major currencies.

With US$ 617.2 billion in foreign currency reserves as of February 9, 2024, there was enough money to pay nearly 10 months' worth of anticipated imports for 2023–2024 as well as more than 97% of the entire amount of outstanding foreign debt as of September 20, 2023.