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 may plummet to 100 rupees. Everybody fears that the rupee will attain 100 years because the economic system is liable to inflation. The Reserve Financial institution of India (RBI) has bought $12 billion of gold reserves to guard the rupee, based on 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 battle. The sale of $12 billion value of gold was initiated to forestall the rupee from additional depreciating towards the greenback. The report additionally added that RBI elevated its overseas 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 stories in sure sections of the media relating to the sale of gold by the RBI.”
“The RBI emphasizes that these stories are incorrect. On this connection, it has come to gentle that the bodily gold inventory has been disclosed by the RBI in its month-to-month report. The newest model is accessible 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 info revealed by RBI once in a while on such issues.” The Press Info Bureau (PIB) additionally fact-checked the claims of gold gross sales to Bloomberg. They harassed that India was not promoting gold to protect the rupee towards the US greenback. they added “India's overseas 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.”
