MUMBAI: RBI net sold $11.1 billion in the spot foreign exchange market in Jan, according to data released on Wednesday. It purchased $49.2 billion and sold $60.3 billion during the month.
This was lower than Dec 2024, when RBI bought $54 billion and sold $69 billion, resulting in net sales of $15 billion. From April 2024 to Jan 2025, net sales totalled $47.2 billion, withdrawing nearly Rs 4 lakh crore of liquidity from the system. The highest monthly intervention was in Nov 2024, with net sales of $20 billion.
RBI’s net outstanding forward sales stood at $77.5 billion at the end of Jan, up from $67.9 billion in Dec. The rupee fell 1.1% against the dollar in Jan, trading between 85.62 and 86.65. It closed at 86.44 per dollar on Wednesday. RBI intervenes in the spot and forwards market to curb exchange-rate volatility.
