The Rupees Record Fall & Golds Surge
On January 23, 2021, the Indian rupee declined sharply to 91.93 against the US dollar amidst pressure from continued selling. Simultaneously, the prices of gold in India rose up to 14% over a month, reaching a high of approximately 1,60,000 for 10 grams of 24-carat gold. With that aforementioned move, exporters may gain a competitive edge due to lower currency values, while importers may experience decreased profit margins. Therefore, companies need to be aware of how this could impact their....
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