India cbank sold $552 mln in FX market in Aug

MUMBAI, Oct 11 (Reuters) - The Reserve Bank of India (RBI) sold $552 million in the local forex market in August and bought $100 million, compared with net sales of $785 million in the previous month, data from the central bank showed on Thursday.

The rupee gained 0.2 percent against the dollar in August. It was trading at 52.72/74 to a dollar in late trades on Thursday.

In the forward dollar market, outstanding dollar sales fell to $14.11 billion in August from $14.46 billion in July, RBI data showed.

(Reporting by Shamik Paul; Editing by Anand Basu)

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