RBI Adds 58 MT of Gold to Reserves in FY25, Raising Share to Near 12%

The Reserve Bank of India (RBI) added over 57.86 metric tonnes of gold to its reserves during FY25. This brings the central bank’s total gold holdings to 879.59 tonnes as of March 31, 2025, up from 854.73 tonnes in September 2024. The addition came at a time when global gold prices rose by nearly 30% over the year.

Change in Composition of Reserves

By the end of March 2025, gold made up 11.70% of India’s total foreign exchange reserves, compared to 9.32% at the end of September 2024. The increase in gold share came despite a fall in overall forex reserves, which stood at $668.33 billion in March 2025, down from $705.78 billion six months earlier.

Shift in Physical Storage

The RBI also shifted a large portion of its gold reserves back to domestic vaults during the year. Gold held in India rose to 511.99 tonnes as of March 2025. This is up from 510.46 tonnes at the end of September 2024 and just over 408 tonnes at the beginning of the fiscal year.

Read More: RBI’s Gold Reserves Surge: Purchases Touch 57.5 Tonnes in FY25, Second Highest in 7 Years

Overseas Holdings and Deposits

As of the latest report, 348.62 tonnes of gold remain stored with the Bank of England and the Bank for International Settlements (BIS). Another 18.98 tonnes are held in the form of gold deposits.

India’s current forex reserves are sufficient to cover 10.5 months of imports, a drop from 11.8 months reported at the end of September 2024.

Conclusion

The RBI’s gold reserves saw a sizeable increase in FY25, both in terms of quantity and as a share of overall foreign exchange reserves. The shift in storage patterns and decline in total reserves reflect broader trends in reserve management during the fiscal year.

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