Reserve Bank of India reportedly sells gold to support the rupee

tamil.news18.com (Tamil)

The Reserve Bank of India may have sold $12 billion in gold reserves to prevent the rupee's depreciation against the US dollar. This move aimed to secure approximately $7.5 billion in foreign exchange, addressing rising import costs due to West Asian conflicts and capital outflows. This alleged sale, if true, marks a significant departure from India's historical approach during economic crises, as the RBI has not officially confirmed the transaction.


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