Bloomberg News acknowledges offhandedly today that by restricting the import of gold into the country India's government intends intervention in the currency market, supporting the rupee. Maybe in another few decades Bloomberg will get around to noting the involvement of other central banks in the gold market for currency-support purposes. The Bloomberg story is headlined "India Gold Imports Seen Dropping as Rajan Protects Rupee" and it can be found here:
http://www.bloomberg.com/news/2014-08-13/gold...ia-dropping-...
Meanwhile The Wall Street Journal notes the increasingly ingenious attempts of Indians to smuggle the monetary metal past those government regulations. The report is headlined "India's Gold Smugglers Innovate to Evade Customs" and it's posted here:
http://blogs.wsj.com/indiarealtime/2014/08...ugglers-inno...
