Gold reserves

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...