<p>Mumbai: The <a href="https://www.deccanherald.com/tags/reserve-bank-india">Reserve Bank of India</a> (RBI) bought $1.95 billion on a net basis in the spot foreign exchange market in January, data released on Tuesday as part of the central bank's monthly bulletin showed.</p><p>The RBI said it purchased $10.40 billion and sold $8.45 billion. In December, the central bank had bought $2.07 billion on a net basis in the spot market.</p>.RBI widening scrutiny of credit 'exuberance': Report .<p>Rupee appreciated by 0.2 per cent against the dollar in January. The unit traded in a range of 82.77 to 83.3475 during the month.</p><p>The RBI's net outstanding forward purchase stood at $9.97 billion as of end-January, compared with a net purchase of $2.18 billion at the end of the previous month, the data showed.</p><p>The central bank intervenes in the spot and forwards market to curb the exchange rate volatility.</p><p>The currency was at 83.0350 to the dollar on Tuesday. </p>
<p>Mumbai: The <a href="https://www.deccanherald.com/tags/reserve-bank-india">Reserve Bank of India</a> (RBI) bought $1.95 billion on a net basis in the spot foreign exchange market in January, data released on Tuesday as part of the central bank's monthly bulletin showed.</p><p>The RBI said it purchased $10.40 billion and sold $8.45 billion. In December, the central bank had bought $2.07 billion on a net basis in the spot market.</p>.RBI widening scrutiny of credit 'exuberance': Report .<p>Rupee appreciated by 0.2 per cent against the dollar in January. The unit traded in a range of 82.77 to 83.3475 during the month.</p><p>The RBI's net outstanding forward purchase stood at $9.97 billion as of end-January, compared with a net purchase of $2.18 billion at the end of the previous month, the data showed.</p><p>The central bank intervenes in the spot and forwards market to curb the exchange rate volatility.</p><p>The currency was at 83.0350 to the dollar on Tuesday. </p>