How Does The Falling Rupee Impact You?
  • Saba Ashraf
  • Aug 27 2013

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.