OREANDA-NEWS. The Reserve Bank of India bought a net \$12.14 billion in spot foreign exchange markets in January, compared with \$6.74 billion in December, according to the central bank's bulletin published on Tuesday.

The total net forward position at the end of January stood at \$5.58 billion compared with \$6.85 billion in December, the data showed.

The rupee moved in a band of 61.29 to 63.63 to the dollar in January, in a month in which the RBI mopped up dollars to take advantage of large dollar inflows into debt and equity markets totalling \$5.4 billion.