The federal government on Wednesday debunked media studies suggesting that the Reserve Financial institution of India (RBI) may need bought gold amounting to round $12 billion to bolster the nation’s overseas change reserves. The clarification got here after Bloomberg reported that the central financial institution is probably going to have lowered half of its gold holdings to shield its overseas forex reserves.
In accordance to Bloomberg, the central financial institution could have lowered half of its gold holdings to shield its overseas forex reserves due to the continued battle in West Asia.
The central financial institution dismissed these studies, saying in a press launch, “The Reserve Financial institution of India (RBI) has come throughout studies in sure sections of the media about RBI’s sale of gold. The RBI emphasises that these studies will not be appropriate.”
The RBI added that the bodily inventory of gold stays unchanged at 880.52 tonnes as of June 3. “Members of the general public are, subsequently, suggested to depend on official data revealed by the RBI from time to time in such issues.”
Furthermore, the Press Info Bureau posted a truth-examine of the report, calling it “faux”. The PIB stated in its publish that the share of gold in India’s forex reserves went up from 13.92 per cent at finish-September 2025 to 16.70 per cent on March 31, 2026 and additional rose to 16.85 per cent as of Could 22, 2026.
It additionally talked about that the RBI shares particulars on the bodily inventory of gold in its month-to-month bulletin and that it stays unchanged to date.
It talked about that the RBI possible bought gold reserves price roughly $12 billion in the course of the two weeks ending Could 22 whereas buying $7.5 billion in overseas forex belongings. It additional acknowledged that the RBI’s actions within the forex market possible supported the rupee, inflicting it to carry out higher than most Asian currencies since Could 20.
The Bloomberg report additionally talked about that by March-finish, the RBI held 880.52 metric tonnes of gold, with 77% of these holdings saved in India. Six months again, 66 per cent of the gold reserves had been held domestically. In accordance to the RBI’s half-yearly forex report launched in April, most of the central financial institution’s abroad gold holdings are with the Financial institution of England and the Financial institution for Worldwide Settlements.
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