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RBI GOVERNOR - Sufficient Flexibility To Move Policy Rate In Either Direction RBI GOVERNOR - Shift In Stance To Help Ensure That Inflation Brought Closer To 4% Aim

How Does The Falling Rupee Impact You?

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With the Indian rupee falling to a new low everyday, the RBI and government are trying to stabilise the currency as much as possible. The government has raised import duty on gold to 10%, along with discontinuing import of gold coins and medallions. Furthermore, domestic sale of gold is now restricted to jewellery. Rate of deposit of NRIs in foreign currency has been increased by 100 bps and remitting money outside India has been restricted to $75,000.