currency market

RBI: RBI’s dollar purchases in Feb highest since June 2021

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Mumbai: The Reserve Bank of India (RBI) bought $8.5 billion in the foreign exchange market on a net basis in February, the highest net purchase by the central bank in 32 months, latest data showed. In January, the RBI had net purchased $1.9 billion in the spot market, the central bank’s April 2023 Bulletin showed. … Read more

RBI: RBI opts not to sterilise some rupee liquidity amid positive foreign flows

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Mumbai: The Reserve Bank of India (RBI) has, of late, introduced some tweaks to its strategy of forex interventions to allow sporadic flows into the banking system and help partially plug a liquidity gap that has caused short-term borrowing costs for banks and corporates to jump. Multiple currency market traders told ET that over the … Read more