RBI emerges as 2nd largest buyer of gold in 2021

RBI emerges as 2nd largest buyer of gold in 2021

Daily Current Affairs   /   RBI emerges as 2nd largest buyer of gold in 2021

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Category : Business and economics Published on: February 11 2022

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  • The Reserve Bank of India (RBI) emerged as the second-largest buyer of yellow metal among the world's Central Banks in 2021.
  • The largest buyer, the Central Bank of Thailand, bought 90 metric tonnes of gold while RBI bought 77.5 metric tonnes taking its total gold reserve to 754.1 tonnes at the end of December 2021.
  • India’s official gold reserves is ninth-largest in the world.
  • In 2009, India bought 200 tonnes of gold from the International Monetary Fund (IMF).
  • At the end of December 2021, RBI gold reserves stood at 754.1 tonnes, which amounts to 6.22 percent of India’s forex reserves. As per RBI data, India’s total reserves at the end of December 31, 2021, stood at $633.61 billion, including gold reserves worth $39.405 billion.
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