Gold share in forex reserves rises nearly 3% in 6 months: RBI data

Gold's share in India's foreign exchange reserves has risen by about 3 per cent in six months, according to the Reserve Bank of India's (RBI) latest half-yearly report on foreign exchange reserves management. The share of precious metals by value (in US dollars) increased from 13.92 per cent at the end of September 2025 to about 16.70 per cent at the end of March 2026.

"In value terms (USD), the share of gold in the total foreign exchange reserves increased from 13.92 per cent as at end-September 2025 to about 16.70 per cent as at end-March 2026," the report added.

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This shift comes even as India’s overall foreign exchange reserves declined slightly during the period under review. Total reserves fell from USD 700.09 billion at end-September 2025 to USD 691.11 billion at end-March 2026, according to the report.

RBI also held 680.05 metric tonnes of gold within the country as of March 31, 2026, according to its latest half-yearly report on the management of foreign exchange reserves. Overall, the central bank’s total gold holdings stood at 880.52 metric tonnes during the period. This indicates that a substantial majority of India’s gold reserves is now stored domestically.

The remaining portion of the gold reserves continues to be held overseas. Of the total, 197.67 metric tonnes are kept in safe custody with the Bank of England and the Bank for International Settlements (BIS), while 2.80 metric tonnes are held in the form of gold deposits, the report noted.

"As at end-March 2026, the Reserve Bank held 880.52 metric tonnes of gold, of which 680.05 metric
tonnes were held domestically. While 197.67 metric tonnes of gold were kept in safe custody with the Bank of England and the Bank for International Settlements (BIS)," the report mentioned.

Key Highlights: RBI Gold Holdings and Foreign Exchange Reserves (March 2026)

• The Reserve Bank of India (RBI) held a total of 880.52 metric tonnes of gold as of March 31, 2026.
• Out of this, 680.05 metric tonnes (majority share) are stored within India, indicating a continued shift towards domestic custody of gold reserves.
• 197.67 metric tonnes of gold remain stored abroad, primarily with the Bank of England and the Bank for International Settlements (BIS).
• A small portion, 2.80 metric tonnes, is held in the form of gold deposits.
• The RBI’s latest report confirms that India is increasingly bringing gold back home, strengthening domestic storage of reserves.
• In terms of value, gold’s share in India’s foreign exchange reserves increased from 13.92% (Sept 2025) to around 16.70% (March 2026).
• This rise highlights the growing importance of gold within India’s reserve composition.
• During the same period, India’s overall foreign exchange reserves declined slightly from $700.09 billion to $691.11 billion.