India raises gold and silver tariffs to 15% to curb imports, support rupee - Reuters

<a href="https://news.google.com/rss/articles/CBMirgFBVV95cUxOV2RjUjN3Yy15dlpNVms4LUEzYnVlNEVYU04xd2tMQVM4eUJPaU5aQWRqYV85SlRaX3c2cjhKN0hKTmU0TmZldW9kbm9yeTlhaW12am9lMjRrWWRrOWF5WDAxWTBZbk16cktSMDl6MXVVbERPQTJTeVJIZUNVUW1FQUE2SndEOHgzNk45eHZHZEw4RGF1ZDJwZlh4c0U0aktoU3FHNk9NNU1pZ3N2dHc?oc=5" target="_blank">India raises gold and silver tariffs to 15% to curb imports, support rupee</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

India raised its import tariffs for gold and silver to 15%, up from 6%, aiming to reduce overseas purchases and ease pressure on the country's reserves. The higher duties may dampen demand but could help narrow the trade deficit and strengthen the rupee.

Indian banks have resumed gold and silver imports after agreeing to pay a 3% customs levy that had previously prompted a month-long halt. This resumption is expected to boost the country's gold imports, widen the trade deficit, and put more pressure on the rupee.

India has raised its basic import duty on gold to 15% from 10.75%, aiming to dampen demand and reduce the current account deficit. The move comes after a surge in gold imports, which had been putting pressure on the rupee.

India has increased import tariffs on gold and silver to 15% from 6%, aiming to reduce imports and ease pressure on foreign exchange reserves. This move may dampen demand in the world's second-largest consumer of precious metals but could help narrow India's trade deficit and support the rupee.

The Indian government has increased customs duties on gold and silver to 15% from 6%, while raising the duty on platinum imports to 15.4% from 6.4%. The move aims to curb overseas purchases of precious metals and ease pressure on India’s foreign exchange reserves.

The Indian rupee is seen recovering some of its lost momentum from record low levels after the government raised import duties on gold and silver to 15%, aiming to curb surging precious metal imports, narrow the trade deficit, and support the rupee amid mounting external pressures.

The government has hiked import duties on gold and silver to 15% from 6% as part of measures to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis. This follows Prime Minister Narendra Modi's appeal for curbs on gold purchases to protect foreign exchange reserves.

The Indian rupee strengthened marginally against the dollar after the government raised import duties on gold and silver to 15%, aiming to curb imports and support foreign exchange reserves. The rupee was trading at 95.61 against the dollar, up 0.08% from its previous close.