New Delhi, November 7 (IANS). The Reserve Bank of India (RBI) on Friday rejected reports circulating on social media which claimed that the central bank has sold about 35 tonnes of gold from its reserves.
Along with this, RBI has termed these reports as mere baseless rumors and has asked people to get information from verified sources for official information.
The central bank has clarified that no such sale has taken place and appealed to the public to rely only on official information, a post by the PIB Fact Check Unit said.
RBI posted on its official
The clarification comes amid growing global interest and volatility in the gold market, as several major central banks continue to increase their gold purchases. Emerging economies, in particular, have been increasing their gold reserves to move away from the US dollar. This trend has intensified after Western countries froze Russia’s reserve assets in 2022.
According to the data released by the central bank, the value of gold reserves after RBI has increased to $ 101.72 billion for the week ending October 31.
At the same time, the share of gold reserves in the country’s foreign exchange reserves has increased to about 15 percent, which is the highest level in several decades.
In the last decade, the share of gold in the country’s foreign exchange reserves has doubled, which was earlier 7 percent.
–IANS
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