RBI May Have Sold Gold to Shield FX Reserves as Middle East War Ripples
Updated
Updated · Bloomberg · Jun 2
RBI May Have Sold Gold to Shield FX Reserves as Middle East War Ripples
3 articles · Updated · Bloomberg · Jun 2
Bloomberg Economics analysis indicates the Reserve Bank of India may have offloaded part of its gold holdings, a possible intervention not formally announced by the central bank.
The suspected sales were aimed at protecting India’s foreign-currency reserves from spillover pressure linked to the war in the Middle East and its market fallout.
The finding is based on publicly available data rather than an RBI statement, leaving the scale and timing of any gold sales unclear.
The episode underscores how the regional conflict is reaching beyond energy markets, potentially forcing reserve-management adjustments at major emerging-market central banks.