RBI's Domestically-held Gold Stock Increases by Another 102MT in First Half of FY24-25
Moneylife Digital Team 30 October 2024
The Reserve Bank of India (RBI) added another 102MT (metric tonnes) to the domestically held gold in April-September 2024.
 
In its 43rd half-yearly report on management of foreign exchange reserves, RBI says its foreign exchange reserves as of 18 October 2024 are valued at US$688.27bn (billion). It includes foreign currency assets (FCAs) worth US$598.24bn, gold worth US$67.44bn, special drawing rights (SDRs) and reserve tranche position (RTP) of US$18.27bn and US$4.32bn, respectively.
 
 
According to RBI, the overall quantity of gold stored in local safes stood at 510.46MT as of 30th September, up from over 408MT as of 31 March 2024.
 
As at end-September 2024, RBI held 854.73MT of gold, of which 510.46MT was held domestically. "While 324.01 metric tonnes of gold were kept in safe custody with the Bank of England and the Bank for International Settlements (BIS), 20.26 metric tonnes were held in the form of gold deposits. In value terms (USD), the share of gold in the total foreign exchange reserves increased from 8.15% at end-March 2024 to about 9.32% at end-September 2024," it added.
 
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