The Reserve Bank of India sold a net $11.88 billion in the foreign exchange market in October, data released on Monday showed, reflecting the central bank’s efforts to support the rupee.
The RBI said in its monthly bulletin that it purchased $17.69 billion dollars and sold $29.56 billion during the month. In September, the central bank had net sold $7.91 billion in the spot market.
The RBI said in its monthly bulletin that it purchased $17.69 billion dollars and sold $29.56 billion during the month. In September, the central bank had net sold $7.91 billion in the spot market.
The rupee closed at 88.7650 against the U.S. dollar in October, having hit 88.80 in late September, which was a record low at the time.
