- The Indian rupee is near an all-time low against the US dollar, sparking fears it could fall to 100.
- Bloomberg Economics reported the Reserve Bank of India (RBI) sold $12 billion in Gold reserves to protect the rupee, a claim the central bank strongly denies.
- Official data shows India’s foreign exchange reserves have increased, with the share of gold rising from 13.92% to 16.85% since September 2025.
In June 2026, the Indian rupee faces severe pressure, nearing historic lows against a dominant US dollar as reports indicate. Consequently, the specter of inflation looms if the currency depreciates further toward the critical 100 mark.
Bloomberg Economics claimed the Reserve Bank of India (RBI) initiated a $12 billion gold sell-off to safeguard the rupee. The reported sale was linked to economic fallout from the Iran war and aimed to add billions to foreign currency assets. However, the RBI issued an official statement emphatically denying these media claims late Wednesday.
“The RBI emphasizes that these reports are not correct,” the central bank declared. It clarified that the physical gold stock remained unchanged at 880.52 tonnes, advising the public to rely on official information. Meanwhile, the Press Information Bureau (PIB) also fact-checked the story, labeling it false.
The PIB highlighted that India’s foreign exchange reserves actually grew significantly during the period in question. Data shows the share of gold in reserves rose from 13.92% at end-September 2025 to 16.70% on March 31, 2026.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
