RBI’s dollar buys near 4-year high! Reserve Bank of India’s net forex purchases hit $14.4 billion in March

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Times of India 10h ago

RBI’s dollar buys near 4-year high! Reserve Bank of India’s net forex purchases hit $14.4 billion in March - Times of India

Quick Summary:

The Reserve Bank of India's net forex acquisitions surged to a near five-year high in March, driven by dollar-rupee swaps aimed at boosting banking system liquidity.The RBI purchased $41.5 billion and sold $27.2 billion as the rupee appreciated.

The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies.

Keeping in mind that the central bank is focused on transmission of rate cuts, we don't expect meaningful reduction in the forward book, although there could be small reductions, depending on the capital inflows," she added.