India has not imported any gold so far in February as high prices dampened demand in the world's largest market for the metal, the head of a leading trade body said on Friday.
Zero. There are no reports (of imports) so far, said Suresh Hundia, president of the Bombay Bullion Association.
India, which annually buys 500-700 tonnes of gold, had imported 23 tonnes in last February.
Prices in India have hit record highs over the past few weeks, partly reflecting a sharp depreciation in the value of the rupee that has made dollar-priced gold costlier.
The rupee hit an all-time low of 51 per dollar on Friday, taking losses this year to 4.5 percent. The currency had fallen 19.1 percent in 2008.
For a gold market report, see [ID:nBOM371223] (Reporting by Ruchira Singh; Editing by Ranjit Gangadharan)
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