Key Points
The share of gold in the RBI's total foreign exchange reserves also rose to 9.32%, amidst a rise in overall foreign reserves to $705.78 billion.Reuters..
Domestic holdings of gold by the Reserve Bank of India (RBI) rose by more than 100 metric tonnes in the half-year ended September, while the share of gold in the total foreign exchange reserves also climbed, as the central bank stepped up purchases of the precious metal...
While 324.01 metric tonnes of gold were kept in safe custody with the Bank of England and the Bank for International Settlements (BIS), 20.26 metric tonnes were held in the form of gold deposits," the central bank said in its half-yearly report on management of foreign exchange reserves for April-September 2024...
At the end of March 2024, 387.26 metric tonnes of gold were kept with the Bank of England and the BIS while 26.53 metric tonnes were held in the form of gold deposits, according to the RBI's half-yearly report for October-March...
Movements in the foreign currency assets occur primarily due to the purchase and sale of foreign exchange by the RBI, income arising out of the deployment of the foreign exchange reserves, external aid receipts of the central government and changes on account of revaluation of the assets, the central bank said.. Out of the RBI's total foreign currency assets worth $617.07 billion as of September, $515.30 billion, or 83.51% was invested in securities, $60.11 billion was deposited with other central banks and the BIS and the remaining $41.66 billion was made up of deposits with commercial banks overseas...
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