RBI buys 2.5 billion dollars in first net purchase
The RBI bought a net 2.52 billion dollars in January, marking its first net purchase in eight months. The move came as the rupee faced downward pressure.
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The central bank of India returned to net purchasing of foreign exchange in January, ending an eight-month streak of net sales. According to the monthly bulletin from the Reserve Bank of India, the institution acquired $2.52 billion on a net basis during the month, even as the rupee faced significant headwinds.
