Question
In 2023-24 (FY24), how much worth of sovereign gold
bonds (SGBs) did the Reserve Bank of India sell, marking the highest-ever response to the instrument since its introduction in November 2015?Solution
In 2023-24 (FY24), the Reserve Bank of India sold sovereign gold bonds (SGBs) worth 44.3 tonnes, marking the highest-ever response to the instrument since its introduction in November 2015. In terms of value, with SGBs valued at $3.26 billion in FY24, it is expected to save 7-8 per cent of the country’s annual import bill for the precious yellow metal.
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