The Indian government has dismissed reports by a news agency claiming that the Reserve Bank of India (RBI) may have sold $12 billion worth of gold to support the rupee amid a sharp currency decline.
In a post on X, the government's PIB Fact Check handle termed the claim "fake" and cited RBI data showing that gold's share in India's foreign exchange reserves has in fact increased. According to the central bank, the share of gold in forex reserves rose from 13.92% at the end of September 2025 to 16.70% as of March 31, 2026, and further to 16.85% as of May 22, 2026
