India Doubles Gold Silver Tariffs to Defend Rupee The Reserve Bank of India (RBI) has taken a bold step to defend the value of its currency by doubling tariffs on gold and silver imports in response to the rupee's record low against the US dollar.
The rupee has depreciated nearly 5% over the past month, sparking concerns about the country's economic stability.
The Rupee's Plunge: A Complex Issue India's currency woes are a result of several factors, including a widening trade deficit and high inflation rates.