Gold helps hold up forex reserves
- Posted on October 27, 2024
- By Business News Today
- 2 Views
Gold helps hold up forex reserves
Since the beginning of the fiscal year, the Reserve Bank has increased its gold stock by 31.6 tonnes, raising its total to 853.6 metric tonnes by September 2024. This addition, along with a 25 percent rise in gold prices, has significantly bolstered reserves despite portfolio outflows post the Ukraine-Russia conflict.