MUMBAI, Oct 21 (Reuters) - 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.

In July, it had bought a net of $6.93 billion in the spot market.

The RBI said it purchased $16.14 billion and sold $22.64 billion in the spot forex market in August.

While most Asian currencies rallied between 2% to 6% in August, the rupee weakened 0.2% to log its second consecutive monthly decline.

The central bank intervenes in the spot and forwards market to curb exchange rate volatility.

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.

The currency settled at 84.0725 to the dollar on Monday.

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https://www.reuters.com/markets/currencies/india-cenbank-sold-649-bln-spot-forex-market-august-bulletin-shows-2024-10-21/