RBI’s gold reserves will increase to 25 tonnes by October this year


New Delhi: The Reserve Bank of India has added 24.93 tonnes of gold this year and continues to rise after seeing its gold reserves rise by nearly 100 tonnes in the previous two years.

The central bank reported on Friday that the central bank held 785.35 tonnes of gold at the end of September 2022, including 41.57 tonnes of gold deposits.

The amount of the central bank’s gold reserves at the end of March 2022 was 760.42 tons. In March 2021, gold reserves were 695.31 tons, which is 5.87 percent of all reserves.

According to the RBI, 296.48 tonnes of gold is held domestically, while 447.30 tonnes is held abroad with the Bank of England and the Bank of International Settlements (BIS).

“In (USD) terms, the share of gold in total foreign exchange reserves increased marginally from around 7.01 per cent at the end of March 2022 to around 7.06 per cent at the end of September 2022,” the RBI said.

RBI’s gold reserves started to rise in the financial year 2017-2018.

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