Friday, April 20, 2018
   
Text Size

Site Search powered by Ajax

Tag: gold

proloybagchi
Indians' craze for gold hurts their economy
2013.06.27 14:24:29

I found it rather odd that the Indian Finance Minister had to be beseeching people of the country not to buy gold. He has requested everyone not to buy gold for at least one year in view of the mounting current account deficits. Rising demand for the precious metal, he said, is met increasingly by imports which push up the trade deficit, impacting on balance of payments. The consequential mounting current account deficit is causing scarcity of dollars weakening the rupee. Lately the rupee has lost heavily against the dollar and is now pegged around 58 to 59 to a dollar.

Tags: gold

Hits: 10840 | Read more...


 

Donation

Thanks to all of our supporters for your generosity and your encouragement of an independent press!

Enter Amount:

Featured_Author

Login






Login reminder Forgot login?

Comments

Subscribe to MWC News Alert

Email Address

Subscribe in a reader Facebok page Twitter page

Week in Pictures

One year under Trump

Gun violence in US