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RBI sold $9.28 billion in forex market in Oct to support rupee
The Morning Standard
|December 25, 2024
IN a bid to support a falling rupee, which lost as much as 125 paise between October 10 and December 24 when it closed at 85.207, the Reserve Bank on Tuesday said it has net sold $9.28 billion on the spot foreign exchange market in October. The net outstanding forward sale stood at $49.18 billion in October as compared to the net sale of $14.58 billion in September.
The RBI said in the monthly bulletin that it had purchased $27.5 billion and sold $36.78 billion during October. As against this, the central bank has bought a net of $9.64 billion in the spot market in September.
This story is from the December 25, 2024 edition of The Morning Standard.
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