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Sify Home >> Finance >> Others >> Why is RBI buying gold from IMF?

Why is RBI buying gold from IMF?

RBI, gold, jewel, IMF, Reserve Bank of India, International Monetary Fund, market


The International Monetary Fund has sold 200 tonnes of gold to the Reserve Bank of India (RBI) for $6.7 billion, quietly executing half of a long-planned bullion sale that has threatened to slow gold's ascent.

The deal will increase India's gold holdings to the tenth largest among central banks.

Text: Reuters

Images: Getty

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