MUMBAI Dec 9 The Reserve Bank of India bought a
net $4.65 billion in spot foreign exchange market in September
compared with $850 million the previous month, according to the
central bank's monthly bulletin released on Friday.
The RBI intervened more in soaking up dollars rather than in
selling the greenback to prevent the rupee from rising sharply
on robust forex inflows in September.
The central bank had bought a total $9.04 billion and sold
$4.39 billion of spot forex when the rupee moved in the
66.3250-67.1450 range, with inflows amounting to $2.9 billion,
the second-highest in a month so far this year.
After September, the flows reversed, with India like other
emerging markets witnessing heavy outflows every month.
The RBI also net sold $220 million in September in currency
futures market, while its forwards dollar purchases stood at
$4.89 billion, it said.
(Reporting by Suvashree Dey Choudhury; Editing by Amrutha