New Delhi, Oct 30
As gold prices continue to surge amid geo-political tensions, the Reserve Bank of India (RBI) had 854.73 metric tonnes of gold as of September 30 and out of which, 510.46 metric tonnes were held domestically.
Gold held domestically surged more than 102 tonnes between April and September this year to 510.46 metric tonnes, against 408 metric tonnes at the end of March.
While 324.01 metric tonnes of gold were kept in safe custody with the Bank of England and the Bank for International Settlements (BIS), 20.26 metric tonnes were held in the form of gold deposits, according to the Reserve Bank of India’s (RBI) ‘Half Yearly Report on Management of Foreign Exchange Reserves: April-September 2024.’
In value terms (USD), the share of gold in the total foreign exchange reserves increased from 8.15 per cent as at end-March 2024 to about 9.32 per cent as at September end.
During the half-year period under review, foreign reserves increased from $646.42 billion in March end to $705.78 billion in September.