The Reserve Bank of India’s gold reserves are currently valued at around Rs 11 lakh crore. The value of its bullion holdings increased by about 64 percent in only one year due to a strong increase in global gold prices and a decline in the rupee’s value relative to the dollar.

Gold held by the Issue Department — the arm that backs currency in circulation — rose 64.1 percent in rupee terms to Rs 3,88,147.13 crore from Rs 2,36,537.54 crore. Gold held by the Banking Department, including gold deposits, jumped 63.6 percent to Rs 7,06,162.36 crore from Rs 4,31,624.80 crore.

Together, the RBI’s total gold was valued at Rs 9,42,699 crore at end-March 2026, climbing further to nearly Rs 11 lakh crore — Rs 10,98,889 crore to be precise — by May 22, the weekly RBI data revealed. The RBI attributed the value increase to rising international gold prices and the depreciation of the Indian rupee against the US dollar.

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India’s central bank held 880.52 metric tonnes of gold as of March 31, 2026, the Reserve Bank of India’s annual report reveals. The value of its gold reserves surged roughly 64 percent over the year as bullion prices climbed and the rupee weakened against the dollar. The RBI’s total gold stock rose marginally by 0.94 metric tonnes from 879.58 tonnes a year earlier, but the value of those holdings saw a sharp increase. After a four-month pause, the RBI purchased a small amount of gold — 0.13 tonnes — in January 2026, but none in February.

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Gold’s Share in Reserves Rises Sharply

Gold’s Share in total forex reserves has more than doubled in the last 2 years. Gold now accounts for 17.2 percent of the RBI’s net foreign assets (NFA) as of end-March 2026, up sharply from 12 percent a year ago, driven primarily by revaluation gains from higher gold prices. The share of gold in NFA was 8.3 per cent as at the end of March 2024.

Of the 880.52 tonnes held, 312.32 tonnes sit with the Issue Department, up from 311.38 tonnes a year ago. The remaining 568.20 tonnes — unchanged from March 2025 — are held under the Banking Department, of which 367.73 tonnes are stored domestically and 200.47 tonnes are kept abroad.

The domestic holding reflects a strategic shift by the RBI, a move that underlined the government’s intent to keep a larger portion of its bullion reserves at home. In total, the RBI brought 168.06 MT of gold to India in 2025-26, up from 107.21 MT in 2023-24 and 103.68 MT in 2024-25.

Overall Forex Reserves Rise in Rupee Terms

India’s overall foreign exchange reserves rose 14.7 percent in rupee terms to Rs 65,53,861.29 crore as of March 31, 2026, from Rs 57,12,140.58 crore a year earlier.

In dollar terms, however, the gain was more modest. Reserves rose 3.4 percent to $691.11 billion from $668.33 billion over the same period, reflecting the rupee’s depreciation against the US currency over the year. By May 22, 2026, India’s foreign exchange reserves had eased to $681.38 billion, central bank data showed.

Disclaimer: This article is intended for informational purposes only and should not be construed as investment advice. Readers are advised to consult a certified financial advisor before making any investment decisions related to gold or foreign exchange instruments. Gold values are subject to fluctuation based on international bullion prices and prevailing rupee-dollar exchange rates.