Summary The Indian rupee plummeted by 113 paise to 70.73 against the US dollar.
NEW DELHI (Web Desk) – Gold prices rose to an all-time-high in Indian markets on Tuesday (August 6) reaching 37,550 rupees ($530.04) per 10 gram, as the rupee slid.
The Indian rupee plummeted by 113 paise to 70.73 against the U.S. dollar.
The currency plunged to a five-month low on Monday (August 5) as the escalating China-U.S. trade spat sent most regional currencies lower while tensions in the disputed region of Kashmir also weighed on investor sentiment.
Local gold prices jumped to record high last month tracking gains in overseas market and as New Delhi raised import taxes on the precious metal to 12.5% from 10% earlier.
