The Reserve Bank of India (RBI) on Sunday clarified that it had not sold any of its gold reserves or done any trading in the yellow metal.
The Central bank's announcement, in a series of tweets, came in the wake of media reports which stated that the RBI has been selling its gold reserves.
"Reports have appeared in certain sections of media that RBI has been selling/trading in gold of late. It is clarified that RBI has not sold any gold or trading in it," tweeted RBI.
Further clarifying on the media reports, RBI said in another tweet, "The fluctuation in value depicted in Weekly Statistical Supplement (WSS) is due to change in frequency of revaluation from monthly to weekly basis and is based on international prices of gold and exchange rates."
The media reports cited RBI's Weekly Statistical Supplement (WSS) data according to which it bought gold worth USD 5.1 billion and sold about USD 1.15 billion of its gold reserves.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app