Why is RBI buying gold? Reserve Bank of India purchases nearly 13.3 tonnes of gold in Jan-Feb 2024

Why is RBI buying gold? Reserve Bank of India purchases nearly 13.3 tonnes of gold in Jan-Feb 2024 - Qoneqt

Rohit Bajirao Deore in India

Why is RBI buying gold? Reserve Bank of India purchases nearly 13.3 tonnes of gold in Jan-Feb 2024

The RBI has increased gold purchases to diversify reserves, with gold value contributing to a $3 billion rise in forex reserves to $648.5 billion. RBI acquired 13.3 tonnes of gold in early 2024, aiming for diversification and inflation hedging.

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