Sonali Garg and Robert E. Wright said on 25 Oct 2026 that India should let people spend their gold to help the rupee. Official policy currently discourages buying gold, but the authors believe using private gold reserves could fix currency problems without the Reserve Bank of India needing to buy more.
Sonali Garg, Robert E.Wright
4 min read25 Oct 2026, 06:01 PM IST
Summary
Official policy discourages Indians from buying gold, but maybe a better policy would be to let them spend it. India could enjoy a gold standard without asking the Reserve Bank of India (RBI) to buy a gram of it or peg the rupee to anything. Here's how.
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