Gold’s Share in India’s Forex Reserves Surges Over 209% Since 2018
Delhi/Hyderabad, Oct 17 (Maxim News): As India’s foreign exchange reserves surpassed $700 billion, the share of gold in the country’s forex has also surged more than 209 percent since 2018.
Click Here To Join Us On WhatsApp
India’s gold reserves stand at $65.76 billion (as of October 4), compared to $21.15 billion as of December 7, 2018, according to the Reserve Bank of India (RBI) data. Shaktikanta Das assumed the RBI office in December 2018. Under his tenure, forex also went up 78 percent. The total foreign exchange reserves of India stood at $701.176 billion (as of October 4) compared to $393.735 billion on December 7, 2018.
The central bank’s gold holding increased by 27.46 metric tonnes to 822.10 metric tonnes in FY24, according to its “Half-yearly Report on Management of Foreign Exchange Reserves”.
Click Here To Join Us On WhatsApp
The RBI also brought home more than 100 tonnes of gold from the UK this year. In value terms (USD), the share of gold in the total foreign exchange reserves increased to about 8.15 percent at the end of March 2024 from about 7.81 percent in March 2023.
Of the total gold holdings, 408.31 metric tonnes were held domestically while 387.26 metric tonnes were kept in safe custody with the Bank of England and the Bank for International Settlements (BIS) (Maxim News)
More Stories :
-
Prematurity Awareness Walk Held At West Marredpally
![Prematurity Awareness Walk Held At West Marredpally]()
A walk for a unique cause—”Prematurity Awareness”—was held in the city today from Parade Grounds to Pushpagiri Vitreo Retina Institute(PVRI) West Marredpally. The walk was organized to bring attention to the challenges faced by babies and families born prematurely. It was organized on the eve of World Prematurity Day, which is celebrated on November 17th.
-
Maha Annakut Mahotsav held at Goushala Satyam Shivam Sundaram Gau Nivas
![Maha Annakut Mahotsav held at Goushala Satyam Shivam Sundaram Gau Nivas]()
South India’s biggest and India’s best maintained Gaushala (cow shelter) Satyam Shivam Sundaram Gau Nivas organized “Maha Annakut Mahotsav” in the city at Umda Nagar in Gaganpahad.
-
Telangana Achieves Rare National Record In Paddy Production
![Telangana Achieves Rare National Record In Paddy Production]()
Telangana has achieved a rare national milestone in paddy production during the Kharif season, recording an exceptional yield of 153 lakh metric tonnes across 66.77 lakh acres. This production level is unparalleled, both in the history of undivided Andhra Pradesh and in the post-formation years of Telangana.
-
Hyderabad Task Force Arrested Eight People Selling Adulterated Ginger Garlic Paste
![Hyderabad Task Force Arrested Eight People Selling Adulterated Ginger Garlic Paste]()
The Hyderabad Commissioner’s Task Force (North) team caught eight persons who were allegedly preparing adulterated ginger garlic paste and selling it in the market. The sleuths seized huge quantities of garlic, ginger, boxes, garlic ginger paste and other articles from them.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter and Instagram. For all the latest Hyderabad News update
