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India's central bank was top gold buyer from April 2020 to Sept. 2022
Monday, December 26, 2022
With 132.34 metric tonnes of gold purchased, the Reserve Bank of India has emerged as the largest buyer of the yellow metal among central banks between April 2020 and September 2022.
The RBI was the top gold buyer among its peers in 2020 while it stood third in 2021. In 2020 it bought 41.68 MT of gold, while in 2021 and 2022 (till September end) it bought 77.5 MT and 31.25 MT respectively.
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At the end of March 2022, the RBI's gold reserve stood at 760.42 MT, which went upto 785.35 MT at the end of September 2022, increasing gold's share of the country's total foreign exchange reserve to 7.86% from 7.01%.
In March 2021, the gold reserves were at 695.31 MT, accounting for 5.87%of the country's total forex reserves. ...
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