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. 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.