Indian Rupee: Precious metal tariffs doubled to support INR – Commerzbank
Commerzbank strategists note that India has more than doubled tariffs on Gold and Silver to 15% to curb Dollar demand and support INR.
The increase in tariffs on gold and silver is likely to reduce demand for these precious metals in India, potentially leading to a decrease in their prices. Consequently, the Indian Rupee may strengthen against the Dollar as the measures aim to curb Dollar demand.
Commerzbank strategists note that India has more than doubled tariffs on Gold and Silver to 15% to curb Dollar demand and support INR.
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