The Reserve Bank of India (RBI) today clarifies it is not selling or sold any of its gold reserves and neither done any trading in the yellow metal. 

The central bank, in a series of tweets, made the clarification amidst reports stating that the RBI has been selling its gold reserves.

reuters/representational image

The RBI tweeted:

“Reports have appeared in certain sections of media that RBI has been selling/trading in gold of late. It is clarified that RBI has not sold any gold or trading in it,” the RBI tweeted.

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In another tweet, the RBI said, “The fluctuation in value depicted in Weekly Statistical Supplement (WSS) is due to change in frequency of revaluation from monthly to weekly basis and is based on international process of gold and exchange rates.”

Multiple reports citied RBI’s WSS data suggested that it bought gold worth gold $5.1 billion and sold about $1.15 billion of its gold reserves.

The country’s total foreign exchange reserves swelled by Rs 13,185 crore – or $1.039 billion – to a life-time high of $440.751 billion in the week ended October 18, from a record $439.712 billion in the previous week.

With Inputs From Agencies

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