India’s Rupee Under Pressure as Mutual Funds Restrict Gold ETF Investments
Photo: Coinpedia
India’s currency pressure is intensifying despite an estimated $75–80 billion in RBI intervention since June, with the rupee trading near ₹97 per dollar. HDFC, Kotak Mahindra and UTI have reportedly suspended bulk subscriptions to their gold ETFs following discussions with SEBI. The move aims to limit a potential surge in gold demand ahead of Diwali. High oil prices, foreign investor outflows and falling forex reserves are adding pressure, raising concerns about further rupee weakness. Previous Article : Tesla Stock Jumps 5% After Flying Roadster Reveal: Can TSLA Sustain the Rally?
Source: Coinpedia
