The Reserve Bank of India (RBI) was a net seller of $6.1 billion in the foreign exchange market in May, data released on Wednesday showed, as heightened volatility in global energy markets and geopolitical tensions weighed on emerging-market currencies, including the rupee.
The central bank purchased $22.2 billion and sold $28.3 billion during the month, resulting in a net sale of $6.104 billion, according to the RBI's July Bulletin. In April, the RBI had sold a net $8.944 billion in the forex market.
