By Thomas Kutty Abraham Nov. 3 (Bloomberg) -- Gold imports by India, the world's biggest buyer, had their first monthly drop in three after a weakening Indian rupee increased import costs. Purchases last month fell 30 percent to 44 metric tons, compared with 63 tons a year earlier, according to provisional data from the Bombay Bullion Association Ltd., a group of 230 traders. ``Imports were less than expected because of the decline in the Indian rupee and high stocks of the metal with importers,'' Suresh Hundia, president of the association, said in a telephone interview today in Mumbai. The rupee declined more than 5 percent in October to a record against the U.S. dollar on speculation a stocks rout and global recession concerns will prompt investors to slash holdings of emerging-market assets. The currency has lost 19.5 percent this year. To contact the reporter on this story: Thomas Kutty Abraham in Mumbai at tabraham4@bloomberg.net

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