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Informist, Saturday, Sept. 26, 2026

 

MUMBAI – The Reserve Bank of India net bought dollars for the second straight month in the foreign exchange market in July on the back of foreign currency non-resident (bank) deposit flows and other measures to boost foreign capital inflows announced in June. The central bank net bought $18.65 billion worth of dollars in July, sharply up from $561 million net purchased in June, according to data the central bank released in its September monthly bulletin Friday.

 

From Jun. 8 to Jul. 31, foreign capital flows through the RBI's measures were $40.81 billion of which $36.73 billion was through FCNR(B) deposits. The rest of the foreign capital flows were from external commercial borrowing and overseas foreign currency borrowing. Of the $36.73 billion received from Jun. 8 to Jul. 31, $19.32 billion were received between Jul. 18 and Jul. 31, according to the data available. Total FCNR(B) deposits mobilised between Jun. 8 and Aug. 31 under the special swap window were $132.98 billion. 

 

These foreign capital flows boosted the central bank's net dollar purchases in July. On a gross basis, the RBI bought $38.42 billion in July up from $30.89 billion bought in June. It sold $19.77 billion in July, down from $30.33 billion in June. 

 

The RBI bought and sold $2.89 billion each on a gross basis in the currency futures market in July, which resulted in a nil net position for the month. The central bank also did not buy or sell on a net basis in the FX futures market in the previous month. The RBI's net outstanding sales in the futures segment at the end of July were $492 million, compared with a nil outstanding position in June.  End

 

US$1 = INR 95.8125

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by J. Navya Sruthi

Edited by Akul Nishant Akhoury

 

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