RBI adds 8 tonnes of gold to reserves in November

The Reserve Bank of India (RBI) added 8 tonnes of gold to its reserves in November 2024, continuing its strategy of diversifying the country’s foreign exchange reserves. This move is part of India's broader efforts to strengthen its economic position and reduce dependency on the US dollar. The RBI’s gold purchases are seen as a safeguard against potential global financial volatility, providing greater financial security. The addition of gold to reserves helps stabilize the country’s currency and ensures economic resilience in the face of international market fluctuations.