India's RBI Sells Gold Reserves Amid Iran War Impact

India's central bank, the RBI, reportedly sold $12 billion in gold reserves to protect foreign currency assets, as the government implements measures like fuel price hikes and increased import duties to stabilize the economy against external shocks.

2 Jun, 07:11 — 2 Jun, 07:11

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Times of IndiaMostly Factual90d ago

Iran war impact: RBI likely sold $12bn gold reserves to shield foreign currency assets

To limit the impact of these external shocks, the government has stepped up measures aimed at reducing foreign exchange outflows and stabilising the economy. These steps include increases in fuel prices and a sharp rise in import duties on precious metals.

By TOI BUSINESS DESK

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India's RBI Sells Gold Reserves Amid Iran War Impact

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Iran war impact: RBI likely sold $12bn gold reserves to shield foreign currency assets

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