The Indian rupee closed at Rs.95.98 against the US dollar on Tuesday as foreign equity outflows and elevated crude prices continued to weigh on the currency. Higher oil prices can increase India’s import bill and create additional pressure on the external balance.
Gold was trading around $4,211 an ounce in early Wednesday trade, while silver gained nearly 1% to about $61.74 an ounce. In India, 24-carat gold was quoted around Rs.1,48,590 per 10 grams and silver at approximately Rs.224.89 per gram.
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