RBI bought $2.5bn USD in July
From Business-Standard
"Crisil Marketwire / Mumbai September 15, 2005
The Reserve Bank of India turned a net buyer of dollars in July, the first time this fiscal. The RBI bought $2.473 billion that month, according to the central bank’s bulletin released on Wednesday. Most of these purchases were made after the revaluation of the Chinese yuan was announced, currency dealers said. "
According to dealers, central banks across Asia had intervened to prevent a sharp appreciation in their currencies. South Korea, Malaysia, and Turkey also resorted to dollar purchases.
Back home, RBI’s dollar buys lifted the country’s foreign exchange reserves to $140.6 billion as on July 29, compared with $137.5 billion previous week.
Before July, the RBI had bought dollars in March to the tune of $6.03 billion. In June, they had sold $103.6 million.
"Crisil Marketwire / Mumbai September 15, 2005
The Reserve Bank of India turned a net buyer of dollars in July, the first time this fiscal. The RBI bought $2.473 billion that month, according to the central bank’s bulletin released on Wednesday. Most of these purchases were made after the revaluation of the Chinese yuan was announced, currency dealers said. "
According to dealers, central banks across Asia had intervened to prevent a sharp appreciation in their currencies. South Korea, Malaysia, and Turkey also resorted to dollar purchases.
Back home, RBI’s dollar buys lifted the country’s foreign exchange reserves to $140.6 billion as on July 29, compared with $137.5 billion previous week.
Before July, the RBI had bought dollars in March to the tune of $6.03 billion. In June, they had sold $103.6 million.
posted by HeraclitusO at 5:29 am
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