ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Import of Gold for Non-Monetary Purposes-A Comment

A Comment Philip Thomas September 3, 1966) is very interesting. There are, however, certain possible sources of error in Gulati's calculations. One such is his assumption that the proceeds of the sale of smuggled gold in India are all converted into foreign exchange at the official rate of exchange.

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