RBI adds 58 metric tonnes of gold in FY25; share in reserves nears 12%

RBI added nearly 58 tonnes of gold in FY25, with most stored abroad; gold now accounts for close to 12 per cent of total foreign exchange reserves

The Reserve Bank of India (RBI) added nearly 58 tonnes of gold in the financial year 2024-25 (FY25), official data released on Monday showed. The central bank now holds 879.59 tonnes of gold in its reserves, of which 26 tonnes were added in the second half of FY25.

 

In dollar value terms, the share of gold in the country’s total foreign exchange reserves increased to nearly 11.70 per cent by the end of March, from 9.32 per cent at the end of September last year, the RBI’s half-year forex reserves report said. 

 

India’s foreign exchange reserves stood at $688 billion as of April 25.

 

Of the 26 tonnes added in the past six months, 348.62 tonnes was stored with the Bank of England (BoE) and Bank for International Settlements (BIS), while 18.98 tonnes were held in the form of gold deposits. 

 

India holds 58.20 per cent of the gold reserves in local vaults as of March-end, against 59.72 per cent in September 2024. 

 

According to the RBI’s report, 511.99 tonnes of gold was held domestically and 348.62 tonnes was kept in safe custody with BoE and BIS.

 

18.98 tonnes were held in the form of gold deposits.

 

The central bank has been storing more gold domestically since March 2023, taking the share from 38 per cent to 59 per cent in September 2024.