Gold reserves

November 10, 2024 4:38 PM

Russia’s gold reserves exceed $200 billion for first time

Russia's gold reserves reached a record high of $207.7 billion in October, according to the country's central bank. The share of gold in Russia's international reserves rose from 31.5 per cent last month to 32.9 per cent, marking the highest proportion since November 1999, when it stood at 34 per cent. The highest-ever proportion of gold in the reserves was 56.9 per cent on January 1, 1993, while the lowest was 2.1 per cent in June 2007, reports Xinhua, citing Russia's RIA Novosti news agency....

October 4, 2024 9:40 PM

India’s foreign exchange reserves cross USD 700 billion first time

India's foreign exchange reserves have reached an unprecedented milestone, crossing the USD 700 billion mark for the first time. According to data released by the Reserve Bank of India (RBI) on Friday, the reserves surged by USD 12.588 billion in the week ending on September 27, pushing the total to USD 704.885 billion. The previous high stood at USD 692.296 billion just a week earlier, marking a significant boost in India's economic buffer. This substantial foreign exchange reserve is a crucia...

April 6, 2024 10:28 AM

Reserve Bank of India leads surge in gold reserves amid global central bank slowdown

The Reserve Bank of India (RBI) stood out with its continued accumulation of gold reserves. Weekly data from the RBI revealed a 6-tonne increase in gold holdings in February alone. This brings the total year-to-date buying by the RBI to over 13 tonnes, with total gold reserves now reaching 817 tonnes. India's consistent efforts to bolster its gold reserves reflect a strategy aimed at diversifying its foreign exchange reserves and mitigating risks associated with currency fluctuations and eco...