Tuesday, November 29, 2022

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RBI’s gold reserves increase to 25 tonnes until Oct this year

New Delhi: The Reserve Bank of India has added 24.93 metric tonnes of gold this year, continuing its upward trajectory after seeing its gold holdings rise by nearly 100 tonnes during the previous two years.

The central bank reported on Friday that the Reserve Bank held 785.35 metric tonnes of gold as of the end of September 2022, including 41.57 metric tonnes in gold deposits.

The amount of gold reserves held by the central bank at the end of March 2022 was 760.42 metric tonnes. Gold reserves reached 695.31 metric tonnes in March 2021, making up 5.87 per cent of all reserves.

According to the RBI, 296.48 metric tonnes of gold are kept domestically, while 447.30 metric tonnes are kept in safe custody abroad with the Bank of England and the Bank of International Settlements (BIS).

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

The gold reserves of the RBI began to rise in the 2017–18 fiscal year.

 

 

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