Higher gold taxes could backfire again
When governments want consumers to buy less of something, they usually reach for taxes.
The US dollar ended lower against the rupee at Rs 64.94/95 per dollar and the pound sterling also finished lower…
PTI | Mumbai | November 9, 2017 8:02 pm
Representational Image (Photo: Getty Images)
The US dollar ended lower against the rupee at Rs 64.94/95 per dollar and the pound sterling also finished lower at Rs 85.14/16 at the close of the Interbank Foreign Exchange (forex) market here on Thursday.
Following are the interbank forex and RBI rates:
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(In Rs per unit) Unit Interbank RBI Reference US Dollar 64.94/95 US Dollar Rs 64.8967 Pound Sterling 85.14/16 Euro Rs 75.3061 Euro 75.53/55 Japanese Yen (100) 57.
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When governments want consumers to buy less of something, they usually reach for taxes.
For decades, India has treated the rupee less as an economic instrument and more as a symbol of national prestige.
According to the forex experts, high crude oil prices, and a stronger US dollar have created a volatile situation of the domestic currency amid the ongoing geopolitical tensions.
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