RBI net sold $7.3 bn in January Close

MUMBAI: The Reserve Bank of India sold a net $7.3 billion in January in the spot market, marginally lower than $7.8 billion in December, it said in a statement on Monday.


The central bank has sold a net $19.86 billion so far in the current fiscal year ending in March 2012. The RBI has not bought dollars in the spot market since December 2010.

Outstanding net forward sales stood at $1.32 billion as of January, the RBI said.