RBI buys record gold this year: At 700 tonnes, reserves up 27% in 2 years

The Reserve Bank of India (RBI) has increased its gold purchases, as part of its foreign exchange (forex) reserves. In the first half (H1) of calendar year 2021 (CY21), the addition of gold to India’s forex reserves has been the highest — on a half-yearly basis —at 29 tonnes.
 
Now, the RBI’s gold holding — as a proportion of its forex reserves — has for the first time crossed 700 tonnes. The central bank’s gold reserves stood at 705.6 tonnes as on June 30. The gold reserves were at 558.1 tonnes in the beginning of 2018.
 
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