Meanwhile, the RBI's net outstanding forward purchase stood at $10.97 billion as of end-December, compared with a net purchase of $8.49 billion at the end of the previous month, the data showed. (Reporting by Siddhi Nayak)
MUMBAI, Feb 17 (Reuters) - The Reserve Bank of India
(RBI) bought a net of $3.84 billion in the spot foreign exchange
market in December, data released on Friday as part of the
central bank's monthly bulletin showed.
The RBI said it purchased $12.82 billion and sold $8.98
billion in the spot market. In November, the central bank had
bought a net of $4.36 billion in the spot market.
The Indian rupee depreciated 1.6% against the dollar in
December and moved in a wide range of 80.98 to 82.93.
The central bank intervenes in the spot and forwards market
to curb exchange rate volatility. The currency ended at 82.83 to
the dollar on Friday.
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