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.
The rupee depreciated by 10 paise to 67.52 against the US dollar in early trade today ahead of release of key IIP and inflation data.
Maintaining its uptrend for the fourth straight day, the rupee strengthened by 21 paise to a fresh one-month high of 66.85 against the dollar in early trade today on increased selling of the greenback by exporters and banks.
The rupee strengthened by 39 paise to 67.39 against the dollar at the interbank forex market on 28 May on fresh selling of the greenback by exporters and banks.
The Reserve Bank of India on Wednesday fixed the reference rate of the rupee at 68.2139 against the US dollar…
At the advent of the new economic policy and globalisation in 1991, the traded at 17.5 to the US dollar.…
