Did RBI sell gold worth $12 billion to save foreign reserves? A fact-check
The Reserve Bank of India (RBI) has denied reports that it sold gold worth $12 billion to bolster its foreign exchange reserves. The central bank clarified that its gold holdings remain unchanged at 880.52 tonnes. Official sources, including the Press Information Bureau, labeled the claims as false and emphasized the importance of relying on verified information from the RBI.
- ▪The RBI stated that reports of selling gold reserves worth $12 billion are incorrect.
- ▪As of May 22, 2026, the RBI's physical stock of gold remains at 880.52 tonnes.
- ▪The share of gold in India's foreign exchange reserves increased from 13.92% to 16.70% between September 2025 and March 2026.
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Did RBI sell gold worth $12 billion to save foreign reserves? A fact-checkThe clarification came after a report claimed that the central bank may have reduced part of its gold holdings to protect its foreign-currency reserves.Updated on: Jun 03, 2026 12:05 PM ISTBy HT News DeskShare viaCopy link The Centre on Wednesday dismissed reports suggesting that the Reserve Bank of India (RBI) had sold gold worth USD 12 billion to strengthen the country's foreign exchange reserves.The clarification came after a Bloomberg report claimed that the central bank may have reduced part of its gold holdings, (Representational image/File Photo)The clarification came after a Bloomberg report claimed that the central bank may have reduced part of its gold holdings to protect its foreign-currency reserves from…
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