India's foreign exchange reserves rose by USD 4.747 billion in the week that ended August 8 to USD 693.618 billion, driven by gains in both foreign currency assets and gold holdings, the Reserve Bank of India (RBI) said in its latest 'Weekly Statistical Supplement'.
Gold continues to be used as a safe-haven asset to help mitigate risks as ongoing economic and geopolitical uncertainty continues to weigh on reserve managers.
The value of Russia's gold holdings surpassed USD 200 billion for the first time ever in October, while bullion's share in the country's international reserves increased to 32.9 per cent, according to the central bank.
New Delhi [India], November 10 (ANI): The consumers in India used their gold holdings as collateral to fulfill their financing needs rather than outrightly selling it during the COVID-19 pandemic phase, revealed a report by the World Gold Council here on Tuesday.