MUMBAI: India’s foreign exchange reserves declined for the first time in eight weeks, falling by $3.7 billion to $701.2 billion in the week ended Oct 4, according to RBI data. Despite the decline, reserves remained above the $700 billion level.The fall comes after reserves reached a record high of $704.9 billion in the week ending…
Why did RBI move 100 tonnes of India’s gold reserves back into the country? TOI was the first to report about the central bank’s decision to bring back such big amount of gold back into India from the UK.Shaktikanta Das, the governor of the Reserve Bank of India, has now explained the rationale behind the…
MUMBAI: Reserve Bank of India governor Shaktikanta Das said the decision to bring in 100 tonnes of gold was made because the quantum of gold outside the country had gone up due to RBI’s purchase. Part of the gold was decided to be held within the country as there was storage capacity available.“The quantum of…
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…
