January 13, 2020 / 5:59 AM / 3 months ago

RBI buys net $6.93 billion in currency market in November - bulletin

FILE PHOTO: CCTV cameras are seen installed above the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai, February 7, 2019. REUTERS/Francis Mascarenhas/File Photo

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

The RBI bought $7.46 billion and sold $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 $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 $6.1 billion as of end-November, down from $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.

Reporting by Swati Bhat; Editing by Subhranshu Sahu

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