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Reserve Bank of India turns Net Buyer of dollars in April

Published on June 17, 2022
Current Context: According to the latest data, the RBI purchased $1.96 billion in April.
Reserve Bank of India turns Net Buyer of dollars in April
  • Earlier in March the RBI sold $20 billion in the foreign exchange market.
  • Since the war broke out in Europe in late February, the Central bank has been aggressively intervening in the foreign exchange market.
  • Apart from that investors are also rushing for safe-haven assets as a result, the value of emerging market currencies increased.
  • On other hand, the rupee has depreciated 4.8 percent against the dollar in 2022 as it traded at 78.08 against the dollar which was an all-time low.
  • During fiscal 2022, the RBI had net purchased $17.312 billion. It had bought $113.991 billion and sold $96.679 billion in the spot market in FY 2021-2022.
  • Apart from that, it has also been estimated that global economic conditions continue to deteriorate as commodity prices increases and the volatility of the financial market.


Q.1 According to RBI data, what amount of dollars have been purchased in the month of April?
a. $2.2 bn
b. $3.2 bn
c. $1.96 bn
d. $4.5 bn

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