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The Economic Times

Business

RBI sold net $8.9 billion in April, gold holdings unchanged

RBI Gold Reserve Bank of India Oil India

The Reserve Bank of India sold a net $8.94 billion in the foreign exchange market in April, data released on Monday showed, as it stepped in to support the rupee that had plunged to record lows amid the U.S.-Iran war.

The RBI said in its monthly bulletin that it purchased $16.23 ‌billion and ⁠sold $25.17 ⁠billion in April. In March, the central bank had sold a net $9.8 billion.

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