A logo of the Reserve Bank of India is seen here.
Credit: Reuters Photo
Mumbai: The Reserve Bank of India (RBI) sold $6.49 billion, on a net basis, in the spot foreign exchange market in August, according to data released on Monday as part of the central bank's monthly bulletin.
In July, it had bought a net of $6.93 billion in the spot market.
The RBI said it purchased $16.14 billion and sold $22.64 billion in the spot forex market in August.
While most Asian currencies rallied between 2 to 6 per cent in August, the rupee weakened 0.2 per cent to log its second consecutive monthly decline.
The central bank intervenes in the spot and forwards market to curb exchange rate volatility.
The RBI's net outstanding forward dollar sales stood at $18.98 billion as of end-August, compared with a net sales of $9.1 billion at the end of the previous month, the data showed.
The currency settled at 84.0725 to the dollar on Monday.