RBI Buys 8.46 Tonnes of Gold After 9 years

Reserve Bank of India (RBI) has bought 8.46 tonnes of gold in the financial year 2017-18. The bank has bought so many gold almost nine years later. According to the Annual Report of the 2017-18 released by the RBI, the RBI had 557.77 tonnes of gold on June 30 last year. Which rose to 566.23 tonne by June 30 this year. During the year, gold reserves have increased by 8.46 tonnes. Earlier, the RBI had bought 200 tonnes of gold from the IMF in November 2009. At present, the RBI has not told why and where he has bought gold.

According to the report released by the RBI, the bank has shown the assets of the department issuing notes to 292.30 tonnes from its gold reserves. The remaining 273.93 tonnes is the property of the gold banking department. The total value of the banking department's gold price has gone up to Rs 69,674 crore on 30th June, 2018, in view of this, it has seen an increase of 11.12%. It was Rs. 62,702 crores on June 30, 2017