The Centre on Wednesday dismissed reports suggesting that the Reserve Bank of India (RBI) had sold gold worth USD 12 billion to strengthen the country's foreign exchange reserves.The clarification came after a Bloomberg report claimed that the central bank may have reduced part of its gold holdings, (Representational image/File Photo)The clarification came after a Bloomberg report claimed that the central bank may have reduced part of its gold holdings to protect its foreign-currency reserves from the impact of the ongoing conflict in West Asia.“According to @RBI, the share of gold in India's foreign exchange reserves rose from 13.92% at end-September 2025 to 16.70% on March 31, 2026, and further to 16.85% as of May 22, 2026,” a fact-check published by PIB said in a social media post.This is a developing story. More details awaited
Did RBI sell gold worth $12 billion to save foreign reserves? What PIB fact check reveals
The clarification came after a report claimed that the central bank may have reduced part of its gold holdings to protect its foreign-currency reserves. | India News
TL;DRAI
RBI denied $12 billion gold sale; official data confirmed gold reserves share rose to 16.85% by May 2026. For tech CFOs, the incident underscores the need to verify macroeconomic reports before using them for capital allocation and hedging strategy.
134 words~1 min read
