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India's central bank hastens repatriation of gold held abroad
From Bloomberg News
via The Hindu, Chennai, India
Wednesday, October 29, 2025
The Reserve Bank of India brought back nearly 64 tons of gold in the first six months of the financial year that began in April, it said in a half-yearly report on foreign exchange reserves Tuesday.
In value terms, gold accounted for 13.92% of total reserves at the end of September, up from 11.70% at the end of March. The RBI generally keeps part of its gold overseas, held at the Bank of England and the Bank for International Settlements.
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As of the end of September, the RBI held 880 tons of gold, of which 576 tons were stored domestically -- an all time-high. Gold held locally accounted for about 38% of the total in September 2022.
The RBI didn’t give a reason for the shift, but the move was aimed at likely enhancing control over the nation's bullion assets after Group of Seven nations, including United States and the European Union, seized Russia's reserves in 2022 following its invasion of Ukraine.
Over the past four years, India's central bank has repatriated nearly 280 tons of gold. Finance Minister Nirmala Sitharaman said last month the RBI was taking a "very considered decision” "to diversify its reserves. ...
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