# RBI's Big Bet on Gold Pays Off as Reserve Value Doubles Past 11 Lakh Crore in Just Two Years

> The Reserve Bank's gold holdings are now worth about $115.8 billion, or more than 11 lakh crore rupees, double their value two years ago, with gold's share of the country's forex reserves climbing to around 17 percent.

**Type:** article · **Category:** Business · **Published:** 2026-07-07 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/business/sone-para-rbi-ke-danva-ne-rnga-dikhaya-mahaja-do-barasa-men-11-lakha-karora-ke-para-pahuncha-bhndara-ka-mulya-5474 · **Language:** English
**Tags:** RBI gold reserve, gold price, forex reserves, central bank gold buying, World Gold Council, India gold holdings, China gold reserve, Poland gold buying

When war broke out between Russia and Ukraine in 2022, India read the writing on the wall early: the arithmetic of global forex reserves was about to change. Acting on that instinct, the country's central bank, the RBI, reshaped its strategy and steadily ramped up gold purchases from 2022 onward. With the RBI and several other central banks all leaning into bullion at the same time, gold prices in the global market shot through the roof. Yet that shift is exactly what is paying off today. By weight, India's gold reserve may still trail many other nations, but in value terms it has doubled in just the past two years.

## What the latest numbers show
According to figures released by the Reserve Bank, the total value of the RBI's gold reserve has now reached roughly $115.8 billion. Converted into Indian currency, that works out to more than 11 lakh crore rupees. The striking part is that this figure is exactly double what the RBI's gold reserve was worth back in 2022. Gold's share of the central bank's total foreign exchange reserves currently stands at about 17 percent, up sharply from around 12 percent just six months ago. This rapid swing reflects both the climbing price of gold in the global market and a deliberate change in strategy amid rising geopolitical tension.

## How much it was worth two years ago
The leap in gold prices over this stretch tells the real story behind the change. In the global market during 2024, gold was trading at roughly $2,000 per ounce; by 2026 it had surged past $4,000 per ounce. That kind of jump shows just how quickly the value of the Reserve Bank's stockpile has climbed. The RBI is also raising its holdings of other foreign assets such as the dollar, the pound and the euro, but its biggest bet by far has been on gold. The reasoning is straightforward: ever since the Russia-Ukraine war began in 2022, the geopolitical situation has stayed uneasy, and in such an environment gold is treated as the safest anchor.

## Poland leads the pack
India is far from alone. Several emerging economies are caught up in the same race to accumulate gold. Even with prices touching the sky in the global market, the Reserve Bank keeps expanding gold's share of its treasury. Beyond India, some European nations also stepped up their gold buying after 2022, and at the top of that list sits Poland. After the Covid-19 pandemic, Poland added 128.6 tonnes to its reserves and lifted its holdings to 228.5 tonnes in the first quarter of 2020. Buying then went quiet for two or three years before picking up pace again from 2022. This European nation pushed its stockpile to 228.7 tonnes in the first quarter of 2023, and by the first quarter of 2026 it had reached 581.6 tonnes. In other words, within just three years Poland bought 253 tonnes of gold.

## China is not far behind
Among Asian nations, China ranks just behind India when it comes to buying gold. Between 2020 and 2022, China had already built its total gold reserve up to 1,948 tonnes. Its holdings then stood at 2,068 tonnes in the first quarter of 2023 and grew to 2,323 tonnes by the first quarter of 2026, meaning China added 245 tonnes to its treasury within three years. Even the small nation of the Czech Republic set what looks like a record of its own. The country's total gold reserve was 13.5 tonnes in 2023, and by the first quarter of 2026 it had climbed to 76.6 tonnes, which means the Czech Republic multiplied its gold holdings by roughly six times in just three years.

## How much gold India added in 10 years
Set against the pace of China and the others, India's stride looks a touch slower, but the numbers point to steady, unbroken growth. The Reserve Bank held a total gold reserve of 557.8 tonnes in the first quarter of 2015, which had risen to 880.5 tonnes by the first quarter of 2026. That amounts to a 58 percent increase in the RBI's gold reserve over 11 years, with about 323 tonnes purchased in that time. Year by year, the RBI's gold holdings stood at 612.6 tonnes in the first quarter of 2019, 653 tonnes in the first quarter of 2020, 695.3 tonnes in the first quarter of 2021, 760.4 tonnes in 2022 and around 794.6 tonnes in 2023. The World Gold Council says the RBI will keep buying gold in the times ahead, which suggests India's reserve is likely to grow stronger still.

## What this means for you
- **Across India:** With the country's gold reserve doubling in value, the rupee and the forex kitty gain a stronger cushion, leaving the economy better protected against global shocks.
- **For investors:** Steady central bank buying and gold jumping from $2,000 to above $4,000 per ounce signal that bullion remains a strong safe-haven investment.

## Questions & Answers

### 1. How much is the RBI's gold reserve worth now?
The total value of the Reserve Bank's gold reserve has reached about $115.8 billion, which is more than 11 lakh crore rupees.

### 2. How much has the value of the gold reserve grown in two years?
Its value has doubled compared with 2022, while gold's share of the forex reserves has risen from 12 percent six months ago to around 17 percent.

### 3. How much did the gold price rise during this period?
In the global market, gold was around $2,000 per ounce in 2024 and surged past $4,000 per ounce by 2026.

### 4. Which country is buying the most gold?
In Europe, Poland leads with 253 tonnes bought in three years, while in Asia, China, ranking behind India, added 245 tonnes in three years.

### 5. How much gold did the RBI buy over the last 11 years?
The RBI's holdings rose from 557.8 tonnes in the first quarter of 2015 to 880.5 tonnes in the first quarter of 2026, a 58 percent increase and about 323 tonnes purchased.

### 6. Why did the RBI place its biggest bet on gold?
After the Russia-Ukraine war began in 2022, geopolitical conditions stayed uneasy, and in such an environment gold is seen as the safest anchor.

### 7. Will the RBI keep buying gold going forward?
According to the World Gold Council, the RBI will continue buying gold in the times ahead.

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