Why is RBI buying gold? Reserve Bank of India purchases nearly 13.3 tonnes of gold in Jan-Feb 2024 – Times of India
The Reserve Bank of India (RBI) has increased its gold purchases to enhance the diversity of its foreign exchange reserves amid fluctuations in the US dollar. The surge in the value of outstanding gold reserves accounted for more than 80% of the nearly $3-billion rise in forex reserves, which reached a record $648.5 billion as…