Birdwatch Note Rating
2024-06-01 18:49:28 UTC - HELPFUL
Rated by Participant: 9F7E88AC1BFCF202FD7A5C6B0801DB0A4FE74968537DD9204AC969520E0BAED3
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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