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SSC CHSL 2020 PYQ — Question 30

SSC CHSL - 20th October 2020 - Shift 2 • General Awareness • Q30

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As per a World Gold Council (WGC) report that was released in January 2020, the Reserve Bank of India (RBI) was ranked ______ in terms of buying gold abroad among central banks of the world.

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Correct answer: B

Explanation

The correct answer is option 2 i.e Sixth.

  • The World Gold Council is the market development organisation for the gold industry. It works across all parts of the industry, from gold mining to investment, and its aim is to stimulate and sustain demand for gold.
  • According to World Gold Council(WGC) report title “World Gold Outlook 2020”, the Reserve Bank of India (RBI) has been ranked 6th in the largest buyer of sovereign gold abroad.
  • RBI purchased 25.2 tonnes in the first 10 months of 2019 to hedge the government’s sovereign gold bond issue. RBI (Reserve Bank of India) currently holds 625.2 tonnes of gold, forming 6.6% of its forex reserves.