 "Reserve Bank of India | File Photo")
After subdued activity in September, the Reserve Bank of India (RBI) substantially scaled up its foreign exchange market operations in October 2018. It sold greenback net $7.2 billion in October, up from a mere $31 million in September, according to the RBI’s monthly bulletin.
The RBI has been infusing dollars to stem excess volatility in the foreign exchange market.
The cumulative sales (net) in April-October 2018 stood at $25.86 billion, according to the RBI data. The RBI had bought $33.68 billion in the previous financial year 2017-18 (FY18).
The RBI has been infusing dollars to stem excess volatility in the foreign exchange market.
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