India build up gold reserves, says Das

Reserve Financial institution Governor Shaktikanta Das on Friday mentioned India has been build up gold reserves as a part of its foreign exchange deployment.

• Additionally learn:RBI’s foreign exchange reserves build-up results in an enormous $64.182 billion accretion in FY24 to this point

“We’re build up gold reserves that is part of our reserve deployment,” Das instructed reporters on the customary post-policy evaluate press convention right here.

He didn’t give any specifics on the quantum of gold buys, however pointed to the official knowledge which reveals a rise within the worth of gold reserves.

Per official knowledge, the worth of gold within the foreign exchange reserves stood at $51.487 billion as on March 22, which is $6.287 billion greater than the worth as at end-March 2023.

Per a current information report, RBI purchased 8.7 tonnes of the bullion steel in January alone — the very best in two years.

The central financial institution’s gold holdings had touched 812.3 tonnes on the finish of January from 803.58 tonnes within the previous month, as per the World Gold Council.