Higher gold taxes could backfire again
When governments want consumers to buy less of something, they usually reach for taxes.
The Rupee fell by 5 paise to 64.43 against the US Dollar in early trade on Wednesday due to increased demand for the American currency from importers.
Forex dealers said Dollar strengthening against other currencies overseas as investors awaited a statement from the US central bank weighed on the Rupee sentiment.
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Domestic stock markets opening higher limited the losses, they added.
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The Rupee had ended lower by 4 paise at 64.38 per Dollar on 25 July at the Interbank Foreign Exchange market.
Meanwhile, the benchmark BSE Sensex rose 49.58 points, or 0.15 per cent, to 32,277.85 in early trade.
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