Tag: Gold Reserves

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The Unit – a Pilot Gold-Backed Digital Trade Currency

Source:  TN Subject:  International Organisation Context: Several reports and expert circles are speculating that BRICS may unveil a pilot gold-backed digital trade currency called “The Unit”, though no official announcement has been made yet. About The Unit – a Pilot Gold-Backed Digital Trade Currency: What it is? A digital, blockchain-based settlement currency designed for cross-border …

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Forex Reserves

Source: BS Context: India’s foreign exchange reserves surged by $4.5 billion, crossing the $702 billion mark for the first time, mainly due to a sharp rise in gold reserves valued at over $108.5 billion. The rise was driven by RBI’s gold purchases and an increase in global gold prices, while foreign currency assets slightly declined …

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