During the economic crisis of 1991, India pledged its gold as collateral. In April it borrowed 200 million dollars from the Union Bank of Switzerland against 20 tonnes of gold. It then shipped 47 tonnes of gold to the Bank of England.
On May 29, 2026, India’s foreign exchange reserves stood at 682.3 billion dollars. The Governor of the Reserve Bank of India said they covered about 11 months of imports.