RBI brings back 100 tonnes of India's gold held in UK, more to follow: How domestic gold reserves shows a robust. confident economy
6 months, 3 weeks ago

RBI brings back 100 tonnes of India's gold held in UK, more to follow: How domestic gold reserves shows a robust. confident economy

Op India  

In a significant move, the Reserve Bank of India has brought back 100 tonnes of gold to its domestic vaults for the first time since early 1991. RBI bringing back chunks from its gold reserves in the Bank of England reflects India’s economic strength and confidence. In response to the devastating economic situation, the Chandra Shekhar government decided to pledge a portion of India’s gold reserves as collateral for foreign exchange borrowing. It is thus remarkable on the part of RBI and the Modi government to bring a significant portion of its gold reserves from BoE to India’s domestic vaults. Nicolás Maduro, Juan Guaidó In Iran’s case, its gold reserves held overseas have been subject to international scrutiny and restrictions, primarily due to economic sanctions imposed by the United States and its allies.

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History of this topic

India tops global gold purchases, adds 27 tonnes to the reserves
2 weeks, 4 days ago

India tops global gold purchases, adds 27 tonnes to the reserves

Live Mint  

Gold buying by central banks surged to 60 tonnes in October, mainly led by the Reserve Bank of India which added 27 tonnes of the precious metal to its reserves, the World Gold Council said on Thursday. India added 27 tonnes of gold in October, bringing its total gold purchases to 77 tonnes from January to October, according WGC data …

At 78 tonnes, RBI’s Gold Purchases till Oct Second Highest After 2009
2 weeks, 4 days ago

At 78 tonnes, RBI’s Gold Purchases till Oct Second Highest After 2009

Deccan Chronicle  

CHENNAI: The Reserve Bank of India added 27 tonnes of gold to its reserves in October, taking its total gold purchases year-to-date to 78 tonnes, the highest since it bought 200 tonnes from IMF in 2009. With the October purchase, RBI’s total gold reserves touched 882 tonnes. India bought gold in the month which saw prices trading around Rs 76,000 …

India's forex reserves drop USD 1.31 billion to USD 656.58 billion as of November 22: RBI
3 weeks, 3 days ago

India's forex reserves drop USD 1.31 billion to USD 656.58 billion as of November 22: RBI

India TV News  

India's forex reserves dropped USD 1.31 billion to USD 656.58 billion for the week ended November 22, the Reserve Bank of India said. For the week ended November 22, foreign currency assets -- a major component of the reserves -- decreased USD 3.043 billion to USD 566.791 billion, the data, which was released on Friday, showed. India's reserve position with …

India’s forex reserves fall for sixth straight week to hit 3-month low of $675.6 billion, down $29 billion from peak
1 month, 1 week ago

India’s forex reserves fall for sixth straight week to hit 3-month low of $675.6 billion, down $29 billion from peak

Live Mint  

India's foreign exchange reserves dropped for a sixth consecutive week to a near 3-month low of $675.65 billion as of Nov. 8, data from the Reserve Bank of India showed on Friday. In the previous reporting week, the forex reserves had dropped by USD 2.675 billion to USD 682.13 billion. For the week ended November 8, foreign currency assets, a …

India’s forex reserves drop for fifth week amid RBI’s possible intervention to support rupee
1 month, 2 weeks ago

India’s forex reserves drop for fifth week amid RBI’s possible intervention to support rupee

India TV News  

India’s foreign exchange reserves fell for the fifth consecutive week, falling $2.675 billion to $682.130 billion in the week ended November 1, according to RBI data. The record reserves of $704.885 billion are slowly dwindling, likely due to RBI intervention to support the rupee. Reserve levels falling after all-time highs Recent reserve declines that peaked last month included $3.7 billion, …

India Recovers 102 Tons of Gold from England, a Historic Move Amid Global Uncertainty
1 month, 3 weeks ago

India Recovers 102 Tons of Gold from England, a Historic Move Amid Global Uncertainty

Firstpost  

The Reserve Bank of India (RBI) has shifted 102 tonnes of its gold from the Bank of England to secure locations within the country. This comes months after bringing back 100 tonnes of the precious metal from the UK in May. The RBI's decision to bring back the gold is motivated by several factors, including economic growth, geopolitical stability, and …

India's forex reserves drop by $4.8 billion to $670.11 billion
4 months, 1 week ago

India's forex reserves drop by $4.8 billion to $670.11 billion

Hindustan Times  

India's forex reserves dropped by USD 4.8 billion to USD 670.119 billion for the week ended August 9, the Reserve Bank of India said on Friday. India's forex reserves dropped by USD 4.8 billion to USD 670.119 billion for the week ended August 9 In the previous reporting week, the kitty jumped by USD 7.533 billion to an all-time high …

India's Forex Reserves Fall $2.92 Billion to $652.9 Billion, Gold Holding Falls $1 Billion
6 months ago

India's Forex Reserves Fall $2.92 Billion to $652.9 Billion, Gold Holding Falls $1 Billion

News 18  

After hitting all-time high levels following continuous gains, India’s foreign exchange reserves fell $2.922 billion to $652.895 billion during the week ended June 14, according to the latest data from the Reserve Bank of India. This decline follows a significant increase of $4.307 billion in the previous reporting week, which pushed the reserves to a record high of $655.817 billion …

India's gold demand cools post-festival as prices surge and RBI hits record reserves
6 months ago

India's gold demand cools post-festival as prices surge and RBI hits record reserves

Hindustan Times  

The World Gold Council has released its latest update on India's gold market, highlighting a period of subdued demand following the festival-driven surge in purchases. The international gold scenario After reaching an all-time high in mid-May, international gold prices saw a minor correction but still closed the month with a 1 per cent increase, settling at USD 2,343 per ounce. …

India's forex reserves decline USD 2.922 billion to USD 652.895 billion, retreat from record highs: RBI
6 months ago

India's forex reserves decline USD 2.922 billion to USD 652.895 billion, retreat from record highs: RBI

India TV News  

In its latest report, the Reserve Bank of India said that India's foreign exchange reserves witnessed a decline of USD 2.922 billion to reach USD 652.895 billion as of June 14. Specifically, foreign currency assets, a pivotal component of the reserves, decreased by USD 2.097 billion to USD 574.24 billion during the same period, as indicated by the data released …

India's Forex Reserves Hit All-Time High of $655.8 Billion, Gold Holdings Rise to $57 Billion: RBI Data
6 months, 1 week ago

India's Forex Reserves Hit All-Time High of $655.8 Billion, Gold Holdings Rise to $57 Billion: RBI Data

News 18  

India’s forex reserves jumped $4.307 billion to a new all-time high of $655.817 billion for the week ended June 7, according to the latest RBI data. Gold Reserves and Special Drawing Rights Gold reserves increased by $481 million to $56.982 billion during the week ended June 7. Foreign Currency Assets and IMF Reserve Position For the week ended June 7, …

Forex Update: India's Foreign Exchange Reserves Hit All-Time High of $651.51 Billion
6 months, 2 weeks ago

Forex Update: India's Foreign Exchange Reserves Hit All-Time High of $651.51 Billion

News 18  

India’s forex reserves jumped $4.837 billion to a new all-time high of $651.51 billion for the week ended May 31, according to the latest RBI data. “Touching a new milestone, India’s foreign exchange reserves reached a historical high of $651.5 billion as on May 31,” RBI Governor Shaktikanta Das said in his statement while announcing the bimonthly policy review. Sanjeev …

Why RBI Stores Gold Reserves In Foreign Vaults? Why Is It Bringing Back Tonnes of Gold From UK?
6 months, 2 weeks ago

Why RBI Stores Gold Reserves In Foreign Vaults? Why Is It Bringing Back Tonnes of Gold From UK?

News 18  

The Reserve Bank of India has moved 100 metric tonnes of its gold reserves stored in the vaults in the UK to India in financial year 2023-24. The US’ gold holdings amount to 8,133.5 metric tonnes comprising 71.3% of its forex reserves. India’s gold holdings amount to 827.69 metric tonnes comprising 8.9% of its forex reserves. Like other countries, India …

RBI shifts 100 tonnes of gold from UK to its vaults, a first since 1991
6 months, 3 weeks ago

RBI shifts 100 tonnes of gold from UK to its vaults, a first since 1991

Hindustan Times  

The Reserve Bank of India shifted over 100 tonnes of gold from the UK to its vaults in the country for the first time since 1991. As per RBI's annual data, the central held held 822.10 tonnes worth of gold as a part of its foreign exchange reserves as of March 31, 2024. Share of gold in India's total foreign …

Indian forex reserve reaches all-time high with $648.7 billion for the week ending May 17: RBI
6 months, 4 weeks ago

Indian forex reserve reaches all-time high with $648.7 billion for the week ending May 17: RBI

India TV News  

The Reserve Bank of India in its latest release on Friday stated that the Indian foreign exchange reserve has risen to an all-time high $648.7 billion for the week ending May 17. Latest data breaches the highest ever record of April 5 Before three weeks of decline, the reserves had hit an all time high of USD 648.562 billion following …

India's foreign exchange reserves rise by USD 140 million to hit fresh peak of USD 642.63 billion
8 months, 3 weeks ago

India's foreign exchange reserves rise by USD 140 million to hit fresh peak of USD 642.63 billion

India TV News  

Business news: India's forex reserves increased by USD 140 million to touch its all-time high of USD 642.631 billion during the week ended March 22, the Reserve Bank of India said. The previous peak level was recorded in September 2021 when the country's foreign exchange reserves reached USD 642.453 billion. For the week ended March 22, the foreign currency assets, …

RBI’s Gold Reserves At All Time High At 817 Tonnes
9 months ago

RBI’s Gold Reserves At All Time High At 817 Tonnes

Deccan Chronicle  

The RBI added 4.7 tonnes of gold in February, taking its gold reserves to an all-time high of 817 tonnes. The RBI had added nearly 9 tonnes in January, which was the first monthly increase in its gold reserves since October 2023 and the largest since July 2022. The Reserve Bank of India bought 77 tonnes of gold in 2021 …

Gold demand in India may hit 900 tonnes this year
10 months, 1 week ago

Gold demand in India may hit 900 tonnes this year

Live Mint  

The demand for gold in India, which has been in the range of 700-800 tonnes annually since 2019, is expected to increase to 800-900 tonnes in the calendar year 2024 on the back of robust economic growth and higher income, Somasundaram P.R., managing director at the World Gold Council, told Mint. However, a pick up in the purchase of gold …

India has more gold reserves than Saudi Arabia, UK; check full list
11 months ago

India has more gold reserves than Saudi Arabia, UK; check full list

Hindustan Times  

The United States has emerged as the country with largest gold reserves in the world, as estimated by the World Gold Council. India has gold reserves measuring 2,191.53 tonnes, valued at $ 131,795 million as per the WGC list The US has gold reserves measuring 8,133.46 tonnes as per the WGC list, valued at $489,133 million. India has gold reserves …

India’s forex reserves rise by $1.85 billion to $595.05 billion; check details
1 year, 5 months ago

India’s forex reserves rise by $1.85 billion to $595.05 billion; check details

Live Mint  

India's foreign exchange reserves rose by $1.853 billion to $595.051 billion in the week ended on June 30, said the Reserve Bank of India. For the week ended on June 30, the foreign currency assets, a major component of the reserves, increased by $2.539 billion to $527.979 billion, according to the Weekly Statistical Supplement released by the RBI on Friday. …

India's forex reserves rise $4.532 billion to $588.78 billion
1 year, 7 months ago

India's forex reserves rise $4.532 billion to $588.78 billion

The Hindu  

India's foreign exchange reserves jumped $4.532 billion to $588.78 billion for the week ended April 28, the Reserve Bank of India said on Friday. In October 2021, the country's forex reserves had touched an all-time high of $645 billion. For the week ended April 28, foreign currency assets, a major component of the reserves, increased nearly $5 billion to $519.485 …

For Indians, historical returns, currency hedge argument make compelling case to keep their faith in gold
2 years ago

For Indians, historical returns, currency hedge argument make compelling case to keep their faith in gold

Firstpost  

In fact, gold in rupee terms has had a healthy return track record, given the consistent decline of the rupee against the dollar. And the Indian chart for 24-carat gold shows a very secular uptrend over the years, primarily for this reason In 2019, World Gold Council estimated that Indian households hold about 25,000 tonnes of gold in various forms. …

India’s gold demand dips as inflation hits rural buyers
2 years, 1 month ago

India’s gold demand dips as inflation hits rural buyers

Live Mint  

India's gold consumption in the months of October to December could fall by around a quarter from a year ago as inflation depresses rural demand, the World Gold Council said on Tuesday. In the December quarter, India's gold demand could fall to around 250 tonnes from 343.9 tonnes a year ago, Somasundaram said. The drop could bring down India's total …

Forex Reserves Up by $204 Million to $532 Billion in First Weekly Rise Since August
2 years, 2 months ago

Forex Reserves Up by $204 Million to $532 Billion in First Weekly Rise Since August

News 18  

India’s forex reserves rose by $204 million to $532.868 billion for the week ended October 7 helped by a jump in the value of gold holdings, the Reserve Bank of India said on Friday. This is the first weekly rise in the kitty since the seven days ended August 27, when the overall reserves stood at $571.56 billion. Foreign currency …

Explained | What is gold recycling?
2 years, 5 months ago

Explained | What is gold recycling?

The Hindu  

The story so far: The World Gold Council accorded India as the fourth largest recycler of gold, having recycled 75 tonnes of the valuable yellow metal in the previous year. As per the report titled ‘Gold refining and recycling’, India’s gold refining landscape has changed ‘notably’ in the past decade with formal operations increasing from less than 5 in 2013 …

Forex reserves fall by $28.05 bn in September-March: RBI report
2 years, 7 months ago

Forex reserves fall by $28.05 bn in September-March: RBI report

The Hindu  

The country's foreign exchange reserves declined by $28.05 billion to $607.31 billion at the end of March this year from $635.36 billion at the end of September 2021, according to an RBI report. Reserve Bank of India publishes half-yearly reports on management of foreign exchange reserves as part of its efforts towards enhanced transparency and levels of disclosure. "During the …

RBI’s 77 tonne gold buy is 2nd highest
2 years, 10 months ago

RBI’s 77 tonne gold buy is 2nd highest

Deccan Chronicle  

Chennai: The Reserve Bank of India bought 77 tonnes of gold in 2021 and this was the highest addition since 2009 when India bought 200 ton-nes from the International Monetary Fund, said the World Gold Council. In 2021, central banks accumulated 463 tonnes of gold and this was 82 per cent higher than 255 tonnes purchased in 2020. According to …

What is behind India's renewed love for gold?
2 years, 11 months ago

What is behind India's renewed love for gold?

Business Standard  

Indians will build on their love for gold this year, as pent-up demand heralds a period of robust sales. Gold’s price drop favoured retail buyers and there was strong pent-up demand for weddings in October last year.“Rising incomes are one of the biggest single drivers of long-term gold demand. This suggests that as India’s economy grows, demand for gold should …

Foreign exchange reserves comfortable: Pankaj Chaudhary
3 years, 5 months ago

Foreign exchange reserves comfortable: Pankaj Chaudhary

Live Mint  

India’s foreign exchange position is comfortable with a reserve of $608.9 billion as on 25 June, minister of state for finance Pankaj Chaudhary informed the Lok Sabha on Monday. India is the fifth largest holder of foreign exchange reserves after China, Japan, Switzerland and Russia, the minister said in a written reply to a question. India’s reserves are comfortable in …

India's Forex Reserves Increase by $689 Million to $584.55 Billion
3 years, 9 months ago

India's Forex Reserves Increase by $689 Million to $584.55 Billion

News 18  

India’s forex reserves increased for the second consecutive week, touching USD 584.554 billion as of February 26, up by USD 689 million, the Reserve Bank said on Friday. The overall reserves had increased by USD 169 million to USD 583.865 billion in the previous reporting week. For the week ended February 26, the core currency assets the largest component of …

Central Banks sell gold for 1st time in a decade
4 years, 1 month ago

Central Banks sell gold for 1st time in a decade

Live Mint  

Central banks became gold sellers for the first time since 2010 as some producing nations exploited near-record prices to soften the blow from the coronavirus pandemic. While inflows into exchange-traded funds have driven gold’s advance in 2020, buying by central banks has helped underpin bullion in recent years. “Virtually all of the selling is from banks who buy from domestic …

RBI to Move to Next Generation Treasury Application for Managing Forex, Gold Reserves
4 years, 2 months ago

RBI to Move to Next Generation Treasury Application for Managing Forex, Gold Reserves

News 18  

In a bid to improve its functioning, the Reserve Bank has decided to move to the Next Generation Treasury Application for managing the country’s foreign exchange and gold reserves. The NGTA, for which the RBI has invited bids from eligible vendors, would be supporting various transactions in asset classes like Fixed Income, Forex, Money Market and Gold. “RBI proposes to …

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