The deposits kept with other central banks and the Bank for International Settlement (BIS) declined to 13.49 per cent at the end of September from 14.82 per cent at the end of March
The proportion of India’s foreign currency assets invested in overseas securities increased to 81.43 per cent by September, up from 80.76 per cent in March, as per the Reserve Bank of India’s (RBI) Report on Management of Foreign Exchange Reserves.
The percentage of funds held in deposits with other central banks and the Bank for International Settlement (BIS) decreased to 13.49 per cent by the end of September, down from 14.82 per cent in March 2023.
Conversely, the proportion of funds held in deposits with overseas commercial banks rose from 4.42 per cent in March to 5.08 per cent in September, as indicated in the report.
The foreign currency assets increased to USD 521.36 billion by the end of September from USD 509.69 billion at the end of March.
The RBI’s gold reserves saw an increase to 800.79 tonnes which includes gold deposits of 39.89 tonnes by the end of September, compared to 794.64 tonnes at the end of March.
The share of gold (in value terms) in total foreign exchange reserves decreased to 7.37 per cent by the end of September from 7.81 per cent in March 2023.
It’s noteworthy that 388.06 tonne of gold are held overseas in secure custody with the Bank of England and BIS, while 372.84 tonnes of gold are held domestically.