Amidst falling rupee, RBI adds another 6.8 tonnes of gold to forex reserves

Amidst falling rupee, RBI adds another 6.8 tonnes of gold to forex reserves

Centre may be gradually adding gold equivalent to the sale of sovereign gold bonds, says an analyst

Rajesh Bhayani

Mumbai, 12 September

The Reserve Bank of India (RBI) is becoming consistent in adding gold to its foreign currency reserves.

In July the central bank added 6.8 tonnes, the highest monthly accretion after 2009. This came at a time when the central bank spent more than $25 billion defending the falling rupee.

After buying 200 tonnes from the International Monetary Fund in 2009, the RBI made its first token purchase in December last year