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India’s Rupee Under Pressure as Mutual Funds Restrict Gold ETF Investments

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India’s Rupee Under Pressure as Mutual Funds Restrict Gold ETF Investments

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. …



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