BENGALURU: The Reserve Bank of India net sold $15.15 billion in the spot foreign exchange market in December, data released on Wednesday showed.

The RBI, as part of its monthly bulletin, said it purchased $53.9 billion and sold $69.05 billion. In November, the central bank had net sold $20.23 billion in the spot market.

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

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The Indian rupee fell 1.3% against the dollar in December, and traded in a range of 84.57 to 85.8075.

The RBI’s net outstanding forward sales stood at $67.94 billion at the end of December, compared with net sales of $58.85 billion in the prior month, the data showed.

The currency ended at 86.95 per dollar on Tuesday. India’s currency and debt markets were closed on Wednesday for a local holiday.