<p>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.</p><p>In July, it had bought a net of $6.93 billion in the spot market.</p><p>The RBI said it purchased $16.14 billion and sold $22.64 billion in the spot forex market in August.</p><p>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.</p><p>The central bank intervenes in the spot and forwards market to curb exchange rate volatility.</p><p>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.</p><p>The currency settled at 84.0725 to the dollar on Monday.</p>
<p>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.</p><p>In July, it had bought a net of $6.93 billion in the spot market.</p><p>The RBI said it purchased $16.14 billion and sold $22.64 billion in the spot forex market in August.</p><p>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.</p><p>The central bank intervenes in the spot and forwards market to curb exchange rate volatility.</p><p>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.</p><p>The currency settled at 84.0725 to the dollar on Monday.</p>