RBI should consider monetising gold: Anand Sharma
Trade Minister Anand Sharma said the Reserve Bank of India (RBI) should look into suggestions that it monetise its gold reserves to reduce imports and dollar outflows that have hammered the rupee, but emphasised it was for the bank to decide.
India has 557.7 tonne of gold in its reserves, making it the eleventh biggest holder, according to the World Gold Council. Indian consumer's appetite for gold has been a drag on the rupee, the worst performing major currency since May. Read More