June 11, 2013 4:34 PM

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Govt: Demand for foreign exchange to buy gold declines due to measures taken to curb import

The government today said the demand for foreign exchange to buy gold has come down significantly due to various measures taken to curb its import. Economic Affairs Secretary Arvind Mayaram told reporters in New Delhi that foreign exchange for purchase of gold has considerably decreased in the last week.He said it has come down from the peak of 227 million dollars to 7 million dollars in a particular day. The average is 41 million dollars. Mr Mayaram added that the high current account deficit is bothering the government but the recent steps taken to check gold demand have started yielding results.

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