A surge in gold imports that widened India's trade deficit to a record in November and pushed the rupee to an all-time low was due to an error in calculation, Bloomberg News reported on Wednesday, citing people with knowledge of the matter.

A surge in gold imports that widened India’s trade deficit to a record last month and pushed the rupee to an all-time low was due to an error in calculation, according to people with knowledge of the matter.

India's gold imports surged to $14.86 billion in November, quadrupling due to festival and wedding demand, driving the trade deficit to a record $37.84 billion. This sharp rise, tied to reduced customs duties and global uncertainties,

The Indian government is re-examining a surge in gold imports that widened the country's trade deficit to a record in November and pushed the rupee to an all-time low, two government sources aware of the matter told Reuters.