5172014 Indian Central Bank s Forex Gold Reserves fell 15 - Shanghai Metals Market

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Indian Central Banks Forex Gold Reserves fell 15

Mar 19 2014 0608 GMT SourceScrap Monster

Tags forex foreign exchange gold reserves RBI half yearly report IMF BIS earning

18 Mar 2014 Last updated at 081941 GMT

NEW DELHI (Scrap Monster) The half yearly report on foreign exchange reserves released by the

Reserve Bank of India (RBI) suggests that the total value of bankrsquos forex reserves in gold fell by 15

between March and September last year The yield on gold reserves fell by 2 basis points during the

period

Gold constitutes a significant share of the countryrsquos foreign exchange reserve in India By value gold

accounted for $25692 billion in March last year The value of gold with the RBI during end-September

was $21765 billion falling by 1528 over a period of six months As per the report gold accounted

for about 8 of the total value of foreign exchange reserves as on end-September The yield on gold

reserves fell in accordance with the low interest rates across developed countries

The countryrsquos foreign currency assets as of end-September totaled $2488 billion 63 of which was

invested in securities The deposits with other central banks Bank for International Settlements (BIS)

and the International Monetary Fund (IMF) constituted 35 The balance 2 was placed with foreign

commercial banks and external asset managers

The rate of earnings on foreign currency assets fell to 145 during the one-year period from July

2012 to June 2013 This represents a fall of 136 over the year The rate of earnings on foreign

currency assets during the period from July 2011 to June 2012 was 147

None of this material may be used for any commercial or public use in any forms or means without the prior writtenconsent of SMM For news cooperation issue please contact us by emailsmmweeklysmmcnCopyright copy SMM All Rights Reserved

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5172014 Indian Central Bank s Forex Gold Reserves fell 15 - Shanghai Metals Market

httpwwwmetalcomnewscontent58631_indian-central-banks-forex-gold-reserves-fell-15 22

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