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>> INDIAN RUPEE Latest News

MAR 13, 2014 - Zero Hedge

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Guest Post: What Is Happening With Gold In India?

Submitted by Jayant Bhandari, Indian government has imposed a duty of ~11.3% on gold imports. Additionally, they have created bureaucratic complexities, including a requirement from gold importers to export 20% of their imports. The government claims that this has resulted in a serious drop in imports, something they wanted, given consistently high, unsustainable current-account deficits. As I write this, international spot price of gold is $1,300 per ounce. In India, however, it is trading at a premium of 18%, at a price of $1,534. One might ask who is pocketing this premium. Has import ... Read More

Tags: Guest Post: What Is Happening With Gold In India?,  Indian Rupee Latest News