RBI sold $95 mn in spot forex market in Oct
Mumbai: The Reserve Bank's net dollar sales in the spot forex market stood at USD 95 million in October, up from USD 10 million in the previous month, RBI data showed Monday.
As per the data of Monthly Bulletin for December 2012, the central bank in October purchased USD 1.05 billion while sold USD 1.15 billion.
The RBI intervenes in the forex market to arrest any excess currency volatility.
In the forward dollar market, the outstanding net forward sales by RBI stood at USD 14.08 million compared to USD 14.05 million in the previous month.
The rupee today closed marginally down at 54.48 against the US currency amid flat stock markets and recovery in dollar against major world currencies.
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