On the finish of March, RBI held 760.42 metric tonnes of gold (together with gold deposits of 11.08 metric tonnes). Whereas 453.52 metric tonnes of gold is held abroad with the Bank of England and the Bank of International Settlements (BIS), 295.82 metric tonnes of gold is held domestically, RBI stated in its half-yearly report on administration of foreign exchange reserves.
Complete overseas change reserves have been at $607.309 billion.
The report additionally stated that India’s overseas change reserves have been satisfactory to cowl round 13 months of imports on the finish of 2021 when reserves have been at $633.6 billion.
The reserves fell to $597.7 billion as on April 29 this 12 months, and subsequently import protection has depleted from the December degree. The reserves hit an all-time excessive of $642.453 billion on September 3 final 12 months which have been sufficient to cowl practically 15 months of imports on a steadiness of funds foundation.
The overseas foreign money belongings comprise multi-currency assets which might be held in multi-asset portfolios. As at end-March 2022, out of the full belongings of $540.72 billion, $363.03 billion was invested in securities, $140.54 billion was deposited with different central banks and the Bank for International Settlements and the steadiness $37.16 billion comprised deposits with industrial banks abroad, the report confirmed.