Team Blitz India
MUMBAI: The Reserve Bank’s gold reserves increased by 34.22 tonne year-on-year to reach 794.64 tonne at March-end 2023, showed central bank data on May 8.
The Reserve Bank held 760.42 metric tonnes of gold (including gold deposits of 11.08 metric tonnes) at the March-end of 2022.
“As at end-March 2023, the Reserve Bank held 794.64 metric tonne of gold (including gold deposits of 56.32 metric tonne),” the central bank said in its Half Yearly Report on Management of Foreign Exchange Reserves: October 2022 – March 2023.
While 437.22 tonne of gold is held overseas in safe custody with the Bank of England and the Bank of International Settlements (BIS), 301.10 tonne of gold is held domestically.
In value terms (USD), the share of gold in the total foreign exchange reserves increased from about 7.06 per cent as of September-end 2022 to about 7.81 per cent as of March-end 2023, the report said.
Forex reserves comprise foreign currency assets, gold, special drawing rights and reserve tranche position in the International Monetary Fund.
