The Commerce Ministry is investigating potential calculation errors in November’s gold imports data after an unusual spike significantly impacted India’s trade deficit, an official said on Wednesday.

The surge in gold imports contributed to a record trade deficit of $37.84 billion for the month. Concerns over the figures come as the rupee also hit an all-time low of 84.91 against the US Dollar on December 16.

Officials are closely analyzing the import data to verify its accuracy, considering its implications on the nation’s economic indicators. The sharp increase in gold imports has raised questions, with the government determined to address any discrepancies in reporting.

Further updates on the Commerce Ministry’s findings are awaited.