RBI net sold $11.88 billion in October to arrest rupee's fall, bulletin shows

Reuters The Reserve Bank ‍of India sold ​a net $11.88 billion in the ⁠foreign exchange market in October, data released on Monday showed, reflecting the central bank's ‌efforts to ‌support the rupee. The RBI said in its ‌monthly bulletin that it purchased $17.69 billion dollars and sold $29.56 billion during the month. In September, the central bank had net ​sold $7.91 billion in the ​spot market. The rupee closed at ‌88.7650 against ‍the U.S. dollar in ‍October, having hit 88.80 in late ‌September, which was a record low at the time. The RBI's net outstanding forward sales stood at $63.61 billion as of end-October, up from $59.41 billion at the end of ‍the prior month, the data showed. The central bank intervenes in ‍the spot ⁠and forward ⁠markets to curb exchange rate volatility. Live Events The rupee hit a record low of 91.075 last week before recovering on the back of the RBI's intervention. On Monday, it closed down 0.43% at 89.65. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel ) Read More News on rupee fall RBI intervention foreign exchange market record low rupee Net sold $11.88 billion currency volatility (What's moving Sensex and Nifty Track latest market news , stock tips , Budget 2025 , Share Market on Budget 2025 and expert advice , on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today . Top Trending Stocks: SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less (You can now subscribe to our ETMarkets WhatsApp channel ) Read More News on rupee fall RBI intervention foreign exchange market record low rupee Net sold $11.88 billion currency volatility (What's moving Sensex and Nifty Track latest market news , stock tips , Budget 2025 , Share Market on Budget 2025 and expert advice , on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today . Top Trending Stocks: SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Why billion-dollar targets keep slipping in mid-tier IT, except at Firstsource Journey of institutional investors, from IPO cheerleaders to silent stewards How a widow’s win against CDSL opens doors for wronged investors Why McDonald’s burger and KFC chicken turned bitter for Indian investors Stock Radar: Ramco Cements breaks out from falling trendline resistance; check target & stop loss It was true in 2008, will...

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