Amid pressure on the Indian rupee, the Reserve Bank of India’s (RBI) monthly bulletin said the central bank was a net seller of $6.104 billion in the spot foreign exchange market in May. On a gross basis, the RBI purchased $22.229 billion and sold $28.333 billion during the month.
May marked the third consecutive month of net dollar sales by the central bank. The RBI had sold $9.758 billion in the spot foreign exchange market in March and $8.944 billion in April. The rupee strengthened in June, supported by lower international crude oil prices and improved foreign inflows following measures introduced by the government and the RBI.
However, those gains were reversed in July, in line with other major emerging market currencies, amid a strengthening US dollar. In real effective terms, the rupee appreciated in June against its major trading partners, driven by gains in the nominal effective exchange rate and higher domestic inflation.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: