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RBI's gold holdings touch 800 tonne
Financial Express Mumbai
|October 30, 2023
THE RESERVE BANK of India's (RBI's) gold holdings, part of its foreign exchange reserves, have reached the near 800-tonne level.
The landmark comes at a time when the first tranche of sovereign gold bonds (SGBS) issued in 2015 is slated for redemption in November.
Though the central bank has not said anything to this effect, experts think some recent purchases may have been made as a hedge to its exposure to SGBs.
The RBI started buying gold from calendar year 2018. Before that, it had purchased 200 tonne in 2009 during the global financial crisis. Since 2018, it has added nearly 242 tonne of gold.
This year till August, the RBI has added 12.2 tonne of gold.
This story is from the October 30, 2023 edition of Financial Express Mumbai.
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