The fall is attributed to a dip in foreign currency assets, which form the largest component of the reserves. These assets saw a reduction in valuation as the dollar strengthened against major global currencies.
India’s foreign exchange reserves declined for the fifth consecutive week, dipping by $2.675 billion to $682.130 billion. This trend may indicate RBI’s market intervention to support the rupee amid currency volatility. Discover how reserve changes impact India’s economy and stability.
In the biggest logistical exercise to move huge quantity of gold since 1991, the Reserve Bank of India transfers 1000 tonnes of gold to its vaults in India. The move is guided by the management of overseas gold reserve considering its rise in recent years.
Bihar has 222.885 million tonnes of gold metal, which amounts to 44 per cent of the total gold reserves in the country.
The NGTA, according to the RBI, would be a web-based application providing scalability, maneuverability and flexibility to introduce new products and securities, besides supporting multi-currency transactions and settlements.
Sonbhadra district of Uttar Pradesh gained sudden prominence after news circulated that the area has a rich vein of gold.
Two days ago, the GSI discovered gold deposits of around 3,000 tonnes worth Rs 12 lakh crore in UP's Sonbhadra, however, it later issued a clarification saying the estimated reserve is about 160 kg. Though gold deposits of around 3,000 tonnes may not have been found, but more than 400 tribal families in Sonbhadra have already started fearing homelessness.
India's official gold holdings have hit all-time high of 618 tonnes. This has facilitated India's inclusion in the top 10 list of countries of with highest official gold holdings. Here is the top 10 list with their gold reserve count.
Mumbai: Forex reserves jumped for the second consecutive week by adding $1.459 billion in the week to November 15, taking the overall reserves to a healthy $283.57 billion, on account higher foreign currency assets.In the
New Delhi: Researchers at the University of Bristol have provided clear evidence that the planet's accessible reserves of gold are the result of a bombardment of meteorites more than 200 million years after Earth was
Beijing, Mar 13: Vice governor of the People's Bank of China Yi Gang Wednesday said the country's gold reserves now stand at 1,054 tonnes, and added that a massive increase is unlikely in the future.“We
New Delhi, May 4: The Reserve Bank is holding gold reserves of 557.75 tonne valued at USD 27.02 billion, Parliament was informed today.“As on April 20, 2012, the value of gold reserve was USD 27.02
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