Birdwatch Note Rating
2024-06-02 06:41:37 UTC - HELPFUL
Rated by Participant: FAC9CFEC00CA1F0DBC4FA66373EC6EBD539C213687581CFE8E70BDF6291CB30F
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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