RBI bought net $3.99 billion in spot forex market in December – Times of India
MUMBAI: The Reserve Bank of India (RBI) bought a net $3.99 billion from the spot foreign exchange market in December compared to a net purchase of $10.26 billion in December, its monthly bulletin released on Monday showed.
The RBI bought $10.01 billion while it sold $6.02 billion in December, data showed. The rupee had moved in a range of 73 to 73.96 per dollar in December.
The net outstanding forward purchase stood at $39.79 billion as of end-December, compared with a net purchase of $28.34 billion at the end of November.
The RBI also bought dollars in the currency futures market, with the outstanding net currency futures position rising to $1.96 billion at the end of December, compared to $780 million at the end of the previous month.
The RBI intervenes in the foreign exchange market to curb excessive volatility in the rupee. The currency was at 73.47 to the dollar on Friday.
Scalping Strategy Course (DVD + Online) - $299.00
In the much anticipated Forex Scalping Strategy Course, Vic and Sarid show you short-term focused techniques and strategies to make quicker profits while reducing market exposure.
Forexmentor Coach's Corner First Month (Online) - $149.00
The Coach's Corner offers 2 live sessions per week, an integrated approach to trading, FREE access to the VicTrade video course and Darko's Pattern Trading Video Lessons.