BuzzingBuzz.com

"Your Daily Dose of Buzzworthy Content!"

RBI Gold Reserves: 8% of the world’s gold reserve in India, RBI has 790.2 gold reserves

ByTeam BB

Apr 7, 2023


RBI Gold Reserve: Gold prices may have seen a sharp jump, but the Reserve Bank of India has bought 3 tonnes of gold in February 2023 and the gold reserve with the RBI has increased to 790.2 tonnes. Information has been revealed by quoting the World Gold Council.

According to the World Gold Council, after this purchase by RBI, 8 percent of the world’s gold reserve is now with India. According to the data, in the first quarter of 2022, India had a total of 760.42 tonnes of gold. There was a reserve of 767.89 tonnes at the end of the second quarter, 785.35 tonnes at the end of the third quarter and 787.40 tonnes at the end of the fourth quarter of 2022. That is, in the last one year, RBI has bought around 30 tonnes of gold.

Keeping in view the upheaval in the Global Financial Market due to the Global Tension, RBI has done a tremendous purchase of gold for better returns and safe investment. Let us tell you that between June 2020 and March 2021, RBI had purchased 33.9 tonnes of gold. In 2021-22, RBI has almost doubled i.e. 65 tonnes of gold. Between April 2020 and September 2022, RBI has purchased 132.34 tonnes of gold. At the same time, Indians have about 25,000 tonnes of gold.

If we look at the value of RBI’s gold holding, it has become worth $45.20 billion. According to the RBI, the main reason for the increase in the gold value of the Central Bank is the increase in gold prices in the international market along with the additional gold bought by the buyer. So due to the weakness in the rupee against the dollar, the value has also increased. In recent times, one thing has come to be seen that all the central banks around the world are engaged in buying gold in view of the economic upheaval. And RBI is also included in this episode.

paisa reels

read this also

CNG-PNG Price Cut: Just a few more hours.. CNG and PNG will be cheaper by 10 to 12 percent!



Source link