The Reserve Bank of India has turned a net seller of dollars for the first time this fiscal in July, having sold $93 million in the month on a net basis in the spot market, show the latest data from the central bank.
During the reporting month, the RBI had purchased $1.592 billion but sold $1.685 billion in the spot market.
In June, the RBI had net purchased $2.463 billion, as it bought $4.434 billion and sold $1.971 billion.
In May and April, the central bank had net purchased $2.538 billion and $4.901 billion, respectively. In July 2018, the RBI had net sold $1.874 billion.