Reserve Bank of India: gold now 16.7% of forex reserves
Business
India's central bank says gold now makes up 16.7% of the country's foreign exchange reserves (up from 13.9% just six months ago) even though total reserves dipped a bit.
Basically, India and other countries are betting more on gold to keep their finances steady when the global economy is unpredictable.
RBI gold holdings 880.52 metric tons
The Reserve Bank of India now holds 880.52 metric tons of gold, with most of it (over 680.05 tons) stored in India—a big shift from two years ago when less than half stayed local.
At the same time, there's been a rise in short-term debt and volatile capital flows compared to reserves, showing how India is adjusting its strategy to stay financially secure as things change worldwide.