The Indian rupee is on the receiving finish of the US greenback because the foreign money is now at its all-time low. It’s about to fall again to the extent of 96, and fears are rife that it may plummet to 100. The rupee hitting a century is what everybody fears because the financial system dangers inflation. A Bloomberg Economics (BE) report revealed on Tuesday claims that the Reserve Financial institution of India (RBI) bought $12 billion in gold reserves to safeguard the rupee.
The publication wrote that the RBI disposed of a portion of its gold holdings within the aftermath of the Iran conflict. Gold sell-off price $12 billion was initiated to guard the rupee from additional decline towards the US greenback. The report additionally added that the RBI added roughly $7.5 billion to its overseas foreign money belongings. The RBI has intervened a number of occasions to guard the rupee since 2024.
Reserve Financial institution of India denies promoting gold to safeguard rupee
After the Bloomberg story was revealed, the RBI intervened and denied the report. The central financial institution confirmed that they didn’t promote gold to assist the rupee towards the US greenback. The central financial institution debunked the claims in a press release formally launched late Wednesday. “The Reserve Financial institution of India (RBI) has come throughout reviews in sure sections of the media concerning the sale of gold by the RBI.”
“The RBI emphasizes that these reviews usually are not right. On this context, it’s clarified that the RBI discloses the bodily gold shares in its Month-to-month Bulletin. The newest version is on the market on the RBI web site, and the bodily gold shares stay unchanged at 880.52 tonnes until date.” learn the assertion denying the sale of gold to guard the rupee.
“Due to this fact, the general public is suggested to depend on official info launched by the RBI every so often in such issues.” Moreover, the Press Info Bureau (PIB) fact-checked Bloomberg on its gold promoting claims. They highlighted that India didn’t promote gold to keep up the rupee towards the US greenback. They added that “India’s overseas trade reserves elevated from 13.92% on the finish of September 2025 to 16.70% on March 31, 2026, and to 16.85% as of Could 22, 2026.”
