Indian Central Bank denies gold sale rumors

The Indian Central Bank denied reports claiming that it is in the process of selling gold, confirming that the actual gold reserves remained steady at 880.52 tons in April and did not change. It clarified that the gold share in foreign exchange reserves increased to 16.7 percent by the end of March, while reports indicated that the bank sold gold valued at approximately $12 billion over two weeks and purchased foreign currency assets worth $7.5 billion.

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