Govt rejects report claiming RBI sold gold worth $12 billion to save foreign reserves

Centre debunked a media report claiming that RBI sold gold to save the forex reserve. The fact-check came after a Bloomberg report, quoting sources, claimed RBI may have sold gold amounting to approximately $12 billion. Calling the report fake, Centre specified that share of gold in India's foreign exchange reserves has actually risen to 16.85% as of May 22, 2026.