The Reserve Bank of India’s (RBI) gold reserves

By IASbook Team September 25, 2023 Educational Resources 0 Comments

The Reserve Bank of India (RBI) acquired about 10 tonnes of gold in the March quarter, placing it among the top five gold buyers.

The Reserve Bank of India’s (RBI) gold reserves touched 794.64 metric tonnes in fiscal 2023, an increase of nearly 5 per cent over fiscal 2022, when it held 760.42 metric tonnes of gold.
The RBI bought 34.22 tonnes of gold in fiscal 2023; in fiscal 2022, it had accumulated 65.11 tonnes of gold.
As on March 31, 2023, the country’s total foreign exchange reserves stood at $578.449 billion, and gold reserves were pegged at $45.2 billion.