Exodus Of Investors From Emerging  Markets, Hits 6th Biggest Economy

TeknikalRaman

Money & Finance

POSTED BY: Ranjeet Kumar PUBLISHED: 8th July, 22

As India's currency hit new lows, investors still grieving from the severe emerging markets selloff once again

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 deserted the rupee, forcing the government to slash oil and gold purchases in order to stop a growing imbalance.

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In an effort to close the current account shortfall, the government increased charges on gasoline and diesel exports while increasing import tariffs on gold.

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Reliance Industries Ltd. and other energy exporters fell as a result of the actions, dragging down the benchmark index by as much as 1.7%.

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As the Fed tightens its monetary policy, policymakers in many emerging markets are faced with difficult choices as they try to combat rising inflation

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The action by New Delhi also highlights the financial difficulties that Prime Minister

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Narendra Modi's government is facing as the world's sixth-largest economy's inflation rate rises and its foreign finances deteriorate. 

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