Higher gold taxes could backfire again
When governments want consumers to buy less of something, they usually reach for taxes.
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.
Dalal Street slipped into sharp losses as geopolitical tensions escalated, pushing oil prices higher and triggering fears around inflation, currency pressure and India’s rising import burden.
At close, the Sensex was down 533.50 points or 0.63% at 84,679.86, and the Nifty was down 167.20 points or 0.64% at 25,860.10.
On Thursday, the rupee had settled at 69.87 against the US dollar.
The Indian Rupee opened higher by 11 paise at 69.76 per dollar versus Thursday's close 69.87.
The Sensex closed 66.44 points, or 0.17 per cent higher than its previous close, at 39,749.73, after moving in the narrow range of 39,828.65.
The appeal was made following the observation of a 53 per cent jump in imports of readymade garments from Bangladesh, ITF Convenor, Prabhu Dhamodaran said in a statement here.
On Monday, the Sensex jumped by a healthy 1421.90 points, closing at 39,352.67, while the Nifty advanced by a massive 421.10 points to 11,828.25, its largest gain since 2008.
