RBI buys net USD 6.93 billion in currency market in November: report

Mumbai: The Reserve Bank of India (RBI) bought a net USD 6.93 billion in the foreign exchange market in November, marginally below the USD 7.1 billion it had purchased in the previous month, the monthly bulletin showed.

The RBI bought USD 7.46 billion and sold USD 530 million in the market in November, it said in the bulletin which was released on Saturday.

The partially convertible rupee had moved in a wide range of 70.5275 to 72.2450 per dollar during the month. Foreign investors had bought a net USD 3.54 billion worth of equities and sold 319.48 million worth of bonds during the period.

In the forwards market, the RBI said it had a net outstanding sell position of USD 6.1 billion as of end-November, down from USD 7.47 billion at the end of the previous month.

The central bank did not buy or sell any currency in the futures market, the bulletin showed.