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The rupee had slumped to a record low of 59.9850 rupee to the dollar on Thursday, as the country's record high current account deficit is exacerbating its vulnerability in an emerging market rout.
Rupee, he said, is not in shambles and "we should not be overtly pessimistic".
India has been struggling to control the current account deficit that hit an all-time high of 6.7 percent of GDP in the December quarter.
Overall Indian companies issued guarantees worth $1.21 billion, extended loans worth $291 million and pumped in equities worth $319 million.
Two senior ministry officials, who declined to be named, said the aim was to attract more capital flows from wealth funds in West Asian countries.
Heightened volatility makes the debt rollovers difficult.
Import duty on gold is already hiked by a third to 8 per cent.
Earlier, Finance Minister P Chidambaram had said he thought the figure was 262 tonnes.
High current account deficit is leading to the rupee weakening.
Monetary policy committee had recommended no change in the key rate.
Overall, merchandise imports rose 10.9 per cent to $41.95 billion.
The central bank, however, would prefer money supply in deficit mode.
Keeping that much money out of the banking system has created a liquidity deficit that has forced banks to borrow as much as RS 1.6 trillion from the central bank to meet daily funding needs.
Current account deficit could ease to around 3 per cent in the current fiscal year from prior estimates of about 4 per cent due to sharp drop in global commodity prices.
His officials are working on a series of steps to attract at least $20 billion in new investment to fund the deficit without depleting India's $300 billion in forex reserves.
Will help to reduce current account deficit and restore growth.
It feels govt may find it challenging to meet the revenue projections.
Majority of the experts expect a 25 basis point reduction.
They shied away due to concerns over asset quality and a rise in NPAs.
Cabinet will take a decision on a conciliation offer from Vodafone.
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