RBI net bought $1.76 bn

The Reserve Bank of India net bought $1.76 billion in May, after a net sell of $1.6 billion in April.

- ANJALI KUMARI

The central bank bought $9.12 billion, while it sold $7.36 billion of foreign currency in May. The rupee had depreciated by 1.3 per cent in May.

Before May, the RBI was a net buyer of the greenback only in March, while it remained a net seller in January, February, and April.

The outstanding net short dollar position in the rupee forward market fell further to $65.21 billion by the end of May, against $72.57 billion at the end of April.