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RBI Might Limit Bank Gold Imports to Ease Account Deficits
Feb. 06, 2013 11:20AM PST
Precious Metals InvestingReuters reported that the Royal Bank of India is considering the possibility of limiting gold import by banks in an attempt to curb a rising account deficit.
Reuters reported that the Royal Bank of India is considering the possibility of limiting gold import by banks in an attempt to curb a rising account deficit.
As quoted in the market report:
But a record high current account deficit of 5.4 percent of GDP in the September quarter has raised concern at the central bank, prompting it to link further monetary policy easing to a lower current account deficit (CAD).
