top of page
Laxmi Diamonds.png

RBI increases gold reserves due to uncertainties in financial markets


The Reserve Bank of India (RBI) has increased its gold reserves due to uncertainties in financial markets that have triggered risk aversion. According to a Moneycontrol analysis of RBI data, gold, which constituted around 6 percent of its forex reserves as on March 20, 2020, rose to 7.85 percent as on March 24, 2023.


RBI’s gold reserves stood at Rs 3.75 lakh crore on Mar 24, 2023, as against Rs 2.09 as on Mar 20, 2020.


The move, analysts said, isn’t unique to the Indian central bank as other major central banks too have turned to gold post Covid, having become more risk-averse in the backdrop of higher inflation and interest rate fluctuations.


Source: Moneycontrol.com



For more Updates Do follow us on Social Media

Facebook Page https://bit.ly/3blw5Rg

35 views

Comments


bottom of page