Rising gold prices boost India’s forex reserves

The Reserve Bank of India’s (RBI’s) strategy to add gold to forex reserves has started bearing fruits. The rising price of the precious metal has helped the central bank increase overall forex reserves despite currency reserves not rising, and sometimes even falling. According to the RBI’s forex reserves data, put out every week, its foreign currency reserves […]

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RBI enters top-10 list of gold holders with 52.3-tonne purchase in FY19

The Reserve Bank of India purchased 52.3 tonnes of gold in FY19 to augment its foreign exchange reserves, according to the latest data released early this week by the World Gold Council. With this, it has entered league of world’s top-10 gold holding central banks.  RBI currently holds 612.6 tonnes of the metal as part of its foreign exchange reserves. Till about a month ago, the central bank […]

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