RBI net dollar purchase touches $565 m in June

The Reserve Bank has remained net buyer of the US currency in June with it net purchase totalling USD 565 million from the spot market.
The central bank bought USD 5.530 billion from the market, while it sold USD 4.965 billion in the reporting month, RBI said in monthly bulletin release today.
However, the net amount purchased in June was much lower than it did in April and May, when RBI had net purchased USD 5.431 billion and USD 2.578 billion, respectively.
June last year, the apex bank had purchased USD 597 million on a net basis, after it bought USD 3.332 billion and sold USD 2.735 billion in the spot market.

In 2014-15, the central bank had net purchased USD 54.837 billion. It had bought USD 124.414 billion and sold USD 69.577 billion in the previous fiscal.
RBI intervention in the foreign exchange market is aimed at curbing volatility in the currency market.
In the forwards dollar market, the outstanding net forward purchase at the end of June stood at USD 2.592 billion as against purchase of USD 1.862 billion as of end May.