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Share Of Gold In India’s Forex Reserves Rises

The share of gold in India’s foreign exchange reserves rose to just over 7% at the end of March 2022, from 5.88% at the end of September 2021, the Reserve Bank of India (RBI) said in a report released on Thursday. At end-March 2022, the RBI held 760.42 metric tonne of gold (including gold deposits of 11.08 metric tonne). “While 453.52 metric tonne of gold is held overseas in safe custody with the Bank of England and the Bank of International Settlements (BIS), 295.82 metric tonne of gold is held domestically,” the central bank said in its half-yearly report on foreign exchange reserves.

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