Birdwatch Note Rating
2024-06-01 08:07:22 UTC - HELPFUL
Rated by Participant: F6249FE4C07129AD9150B548CEA3A1F8FE6CF66DA5E41E831CB9FEE67EDC59BC
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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