US-Iran war impact: RBI likely sold $12 billion gold reserves to shield foreign currency assets, says report

Jun 2, 2026 - 15:00
US-Iran war impact: RBI likely sold $12 billion gold reserves to shield foreign currency assets, says report

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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.

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