India cbank net sold $2.5 bln in FX spot mkt in August
MUMBAI Oct 10 (Reuters) - The Reserve Bank of India sold $3.2 billion in the forex spot market, and bought $724 million in August, the central bank's bulletin showed on Thursday.
In the month ago period, the central bank had sold $6 billion in the forex spot market, and bought $50 million.
The rupee has rebounded by more than 11 percent since hitting a record low of 68.85 against the dollar on Aug. 28 after being hammered earlier this year on concerns over India's gaping current account deficit and expectations of reduced capital inflows to India once the U.S. Federal Reserve starts to scale back its stimulus programme.
In the forward dollar market, outstanding dollar sales rose to $9.1 billion in August from $4.7 billion a month ago. (Reporting by Neha Dasgupta; Editing by Sunil Nair)
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