RBI Boosts Gold Reserves to 854.7 Tonnes, Relocates 102 Tonnes Amid Dhanteras 2024

Oct 30, 2024, 05:10 AM

The Reserve Bank of India (RBI) has significantly increased its gold reserves, with domestically-held gold reaching 854.7 tonnes by the end of September 2024. This increase includes the relocation of 102 tonnes of gold back to India, raising the domestic gold reserves to 60%. The RBI's move aims to add security amid global economic uncertainty. Additionally, India's foreign exchange reserves were estimated at $688.27 billion as of October 18, 2024, according to the RBI's 43rd Half Yearly Report on Management of Foreign Exchange Reserves for April - September 2024. The increase in gold reserves coincides with Dhanteras 2024 celebrations.