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India's Gold Gambit: Diversification or De-Dollarisation?

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India's Gold Gambit: Diversification or De-Dollarisation?

Y
yogesh waran

3 Views • Feb 11, 2025

Description

India's central bank, the Reserve Bank of India, bought over 72 tonnes of gold in 2024. The RBI's gold acquisition was up four-fold between 2023 and 2024. An MP questioned the buying spree, asking Finance Minister Nirmala Sitharaman if it was related to De-Dollarisation. What is the real purpose behind the RBI's hoarding of Gold?