The Reserve Bank’s net dollar sales in the spot forex market stood at $95 million in October, up from $10 million in the previous month, RBI data showed today.
As per the data of Monthly Bulletin for December 2012, the central bank in October purchased $1.05 billion while sold $1.15 billion.
The RBI intervenes in the forex market to arrest any excess currency volatility.
In the forward dollar market, the outstanding net forward sales by RBI stood at $14.08 million compared with $ 14.05 million in the previous month.
The rupee today closed marginally down at 54.48 against the US currency amid flat stock markets and recovery in dollar against major world currencies.