Gold import not the only reason for rupee fall
Posted on: 02/Sep/2013 10:46:18 PM
The zero percent import of gold during the last 40 days is considered as the reason for the rupee depreciation, however economist says that the country should focus on manufacturing output to get rid of this bad situation. Gold merchants are upset with 10 percent import duty and says that gold import is not the only reason the rupee fall.
“Gold imports are a very small fraction. The ban on non-essential imports like gold, platinum and silver can only strengthen the rupee by 10 or 20 paisa,” said G. Ramachandran, a city-based financial analyst, who added that improving exports is the only way to move forward.
