RBI gold reserves surpass $100 billion as prices hit record high

MUMBAI: Valuation of gold in Reserve Banks foreign exchange reserves crossed the $100 billion mark for the first time ever, increasing by $3.6 billion to $102 billion in the week ended October 10. RBI’s total reserves fell $2 billion to $697.7 billion. Gold reserves increased as gold prices crossed the crucial all time high of $4,000/oz last week, according to the world gold council. Foreign currency assets in reserves fell $5.6 billion to $572 billion in the week.

Total reserves have come within touching distance of the record high in mid September at $702 billion, but consistently fell later.