New Delhi: The union finance minister P
Chidambaram urged the citizens to postpone buying gold at least for a
year, at the backdrop of slashing of Indian rupees against US Dollar.
Keep away from gold at least for 6 months to 1 year, said minister Chidambaram. Its owing to Indians too much greed for gold, the liquidity has been affected that has resulted in weaker Indian
rupee
against US Dollar, said minister Chidambaram, addressing the media
persons during a press meet held here on Thursday June 13.
Dont invest in gold, instead invest in bonds and fixed deposits that will enhance liquidity. If the gold buying is not capped, the country faces further weaker Indian rupee, cautioned minister Chidambaram.
The import duty for god has been hiked to 8 percent and it alone is not possible to cap the falling rupee. The import duty cannot be hiked further. Therefore, the buying of gold has to be limited, added minister Chidambaram.
Gold is imported because its Indias natural resources are negligible. The gold merchants has to buy gold in international markets paying US Dollars that has been attributed to falling rupee, stressed minister Chidambaram.
Keep away from gold at least for 6 months to 1 year, said minister Chidambaram. Its owing to Indians too much greed for gold, the liquidity has been affected that has resulted in weaker Indian
rupee
against US Dollar, said minister Chidambaram, addressing the media
persons during a press meet held here on Thursday June 13.Dont invest in gold, instead invest in bonds and fixed deposits that will enhance liquidity. If the gold buying is not capped, the country faces further weaker Indian rupee, cautioned minister Chidambaram.
The import duty for god has been hiked to 8 percent and it alone is not possible to cap the falling rupee. The import duty cannot be hiked further. Therefore, the buying of gold has to be limited, added minister Chidambaram.
Gold is imported because its Indias natural resources are negligible. The gold merchants has to buy gold in international markets paying US Dollars that has been attributed to falling rupee, stressed minister Chidambaram.
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