India’s rupee is at present at an all-time low, making it a bastion of the US greenback. The forex is about to fall to the 96 rupee degree once more, and there are fears that it might plummet to 100 rupees. Everybody fears that the rupee will attain 100 years because the financial system is liable to inflation. The Reserve Financial institution of India (RBI) has offered $12 billion of gold reserves to guard the rupee, in keeping with a report revealed by Bloomberg Economics (BE) on Tuesday.
The publication writes that the Reserve Financial institution of India has drained a few of its gold holdings from the aftermath of the Iran warfare. The sale of $12 billion value of gold was initiated to stop the rupee from additional depreciating towards the greenback. The report additionally added that RBI elevated its international forex property by about $7.5 billion. The RBI has intervened a number of instances since 2024 to guard the rupee.
Reserve Financial institution of India denies promoting gold to guard rupee
After the Bloomberg article got here out, the RBI intervened and denied the report. The central financial institution confirmed that it didn’t promote gold to help the rupee towards the US greenback. The central financial institution debunked this declare in a proper assertion late Wednesday. “The Reserve Financial institution of India (RBI) has discovered experiences in sure sections of the media relating to the sale of gold by the RBI.”
“The RBI emphasizes that these experiences are incorrect. On this connection, it has come to mild that the bodily gold inventory has been disclosed by the RBI in its month-to-month report. The newest model is obtainable on the RBI web site and the bodily gold inventory stays unchanged at 880.52 tonnes.” Learn the assertion denying gold gross sales to guard the rupee.
“The general public is subsequently suggested to depend on official data revealed by RBI once in a while on such issues.” The Press Data Bureau (PIB) additionally fact-checked the claims of gold gross sales to Bloomberg. They pressured that India was not promoting gold to protect the rupee towards the US greenback. they added “India’s international change reserves rose from 13.92% on the finish of September 2025 to 16.70% on March 31, 2026, and additional rose to 16.85% as on Might 22, 2026.”
