Diabytes
India gold reserves News
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The government in 1991 pledged 46.91 tonnes of gold with the Bank of England and the Bank of Japan to raise 4 million dollars between July 4 and 19.
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While India remains a significant player in the global gold market, other central banks also contributed to the accumulation in February.
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The foreign currency assets (FCAs), a major component of the overall reserves, increased by USD 2.568 billion to USD 376.209 billion for the reporting week, according to data by the Reserve Bank of India (RBI).
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India's gold reserves fell sharply by USD 824.2 million as the metal's prices weakened globally, but gains in currency assets limited the dip in overall forex reserves, which were down USD 187.6 million at USD 353.46 billion for the week ended July 31.
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