India central bank bought $2.5 billion in January on a net basis, bulletin shows

The Reserve Bank of India purchased $2.52 billion in the foreign exchange market on a net basis in January. This was the central bank’s first net purchase in eight months. The purchase was disclosed in the Reserve Bank’s bulletin.

During January, the rupee faced headwinds in the currency market. The Reserve Bank’s net buying took place while the rupee struggled in the foreign exchange market.