The government has refuted claims that the Reserve Bank of India sold gold to bolster India's foreign exchange reserves amid global uncertainties.
Centre Denies Report Claiming RBI Sold Gold To Boost Forex Reserves
The government has refuted claims that the Reserve Bank of India sold gold to bolster India's foreign exchange reserves amid global uncertainties.
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The Centre has dismissed a recent report suggesting that the Reserve Bank of India (RBI) sold gold to shore up India's foreign exchange reserves. According to a clarification issued, the share of gold in India's forex reserves has actually increased, rising from 13.92% in September 2025 to 16.85% as of May 22, 2026.
The report, published by Bloomberg, alleged that the RBI had taken this step in response to global economic pressures, including the ongoing Iran conflict. However, the government's statement categorically labeled the claims as 'fake' and emphasized that the data on India's forex reserves contradicts the report's assertions.
India's foreign exchange reserves, which include gold holdings, are managed by the RBI and are periodically disclosed to ensure transparency. The government highlighted the upward trend in gold's share within the reserves as evidence against the claims made in the report.
This clarification comes amid heightened scrutiny of economic measures taken by central banks globally, especially during periods of geopolitical instability. The Centre's statement aims to reassure stakeholders about the stability and management of India's forex reserves.
Further verification of the Bloomberg report's claims and the government's response may be required to provide additional context for readers.