Indian Rupee advances on restrictions on gold imports

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/FP
The Rupee climbed after the central bank came up with new restrictions that prevents gold imports. The currency was up 0.1% to 59.6575 versus the greenback at 9:13 a.m. Mumbai time. In order to narrow current-account deficit, the bank said that 20% of imported gold has to be available for export. Due to the measures, gold-shortage might occur in the festival season when demand is high.
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