# After three years, why has the RBI become a net seller of US dollars in FY2023? | Explained News - The Indian Express

> The RBI became a net seller of US dollars in fiscal 2023, selling a net $25.52 billion in the spot market after three years as a net buyer. The sales were aimed at propping up the rupee, which had depreciated about 8% to near 82 per dollar over the year. The article attributes the pressure to the Ukraine war's effect on oil import bills and Fed rate hikes.

- Date: 2023-05-24 · published 2023-05-24T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/36230-after-three-years-why-has-the-rbi-become-a-net-seller-of-us-dollars-in-fy2023
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

The RBI's dollar sales show how much policy support the rupee has received, which shapes the cost of dollar-priced imports for Indian feed buyers. The article describes past intervention, so it does not signal a new price move.

## Read by commodity

- USDINR: neutral

## Sources

- indianexpress.com: https://indianexpress.com/article/explained/explained-economics/after-three-years-why-has-the-rbi-become-a-net-seller-of-us-dollars-in-fy2023-8626021/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.