-
India might buy gold from citizens to ease rupee crisis
India is considering a radical plan to direct commercial banks to buy gold from ordinary citizens and divert it to precious metal refiners in an attempt to curb imports and take some heat off the plunging currency. A pilot project will be launched soon, a source familiar with the Reserve Bank of India (RBI) plans told Reuters. India has the world's third-largest current account deficit, which is approaching nearly $90 billion, driven in a large part by appetite for gold imports in the world's biggest consumer of the metal. With 31,000 tonnes of commercially available gold in the country - worth $1.4 trillion at ... (full story)
- Comments
- Comment
- Subscribe
- Comment #1
- Quote
- Aug 29, 2013 12:14pm Aug 29, 2013 12:14pm
- Marsfx
- | Joined Apr 2013 | Status: Member | 519 Comments
- Comment #2
- Quote
- Aug 29, 2013 12:23pm Aug 29, 2013 12:23pm
- eqshack
- Joined Jul 2011 | Status: Lord Of War | 1002 Comments | Online Now
Early to bed, early to rise, keeps you healthy, wealthy and wise.
- Comment #3
- Quote
- Aug 29, 2013 12:29pm Aug 29, 2013 12:29pm
- Marsfx
- | Joined Apr 2013 | Status: Member | 519 Comments
- Comment #4
- Quote
- Aug 29, 2013 1:20pm Aug 29, 2013 1:20pm
- Sandy29
- | Joined Jul 2013 | Status: Member | 51 Comments
Enter Signature
- Comment #5
- Quote
- Aug 29, 2013 1:23pm Aug 29, 2013 1:23pm
- korriok
- | Joined Jun 2011 | Status: Member | 15 Comments
- Comment #6
- Quote
- Aug 29, 2013 2:36pm Aug 29, 2013 2:36pm
- Guest
- | IP XXX.XXX.229.187