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

The post India’s Rupee Under Pressure as Mutual Funds Restrict Gold ETF Investments appeared first on Coinpedia Fintech News

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. …