Birdwatch Note Rating
2024-06-01 04:14:50 UTC - HELPFUL
Rated by Participant: 9E4926AD463DFB7E83B0AE1004D1EE02F7EF8BE71D251752A2A555FED6FA1A12
Participant Details
Original Note:
In 1990-91 foreign exchange crisis, India pledged part of its reserves to the Bank of England for a $405 mn loan. Loan was repaid in Nov 1991 but RBI kept the gold in UK for logistical reasons. The RBI has moved 100 MT of its gold stored in the UK to domestic vaults in FY24 https://www.businesstoday.in/latest/economy/story/what-made-rbi-move-100-tonnes-of-gold-from-uk-to-its-vaults-heres-an-explainer-431671-2024-06-01
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