MUMBAI (Reuters) – The Reserve Bank of India (RBI) sold a net of $10.36 billion in the spot foreign exchange market in September, the central bank said in its latest monthly bulletin released on Friday.
The RBI said it bought $23.27 billion and sold $33.62 billion in the spot market.
The rupee tumbled from around 79.5 per dollar to more than 81.5 in September. It plunged to a record low of 83.29 in October, with traders citing instances of RBI intervening in the markets to curb volatility over the period.
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The RBI said its net forward dollar holdings was $10.42 billion as of end-September, compared with $20.16 billion as of end-August.
The central bank has sold a net of $54 billion since the beginning of the year.
(Reporting by Anushka Trivedi in Mumbai; Editing by Savio D’Souza)
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