The RBI’s gold reserves started increasing from the 2017-18 financial year, and in the last two years it went up over 100 tonnes.
As at end-March 2022, the Reserve Bank held 760.42 tonnes of gold, including gold deposits of 11.08 tonnes.
While 453.52 tonnes of gold is held overseas in safe custody with the Bank of England and the Bank of International Settlements (BIS), 295.82 tonnes of gold is held domestically.
In value terms (dollar), the share of gold in the total foreign exchange reserves increased from about 5.88 per cent as at end-September 2021 to about 7.01 per cent as at end-March 2022 – which is close to the 2014 levels.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.