Rupee appreciated after India postponed new tax legislation

Note: This section contains information in English only.
Source: BBC
The Indian currency, the Rupee, appreciated, following the government decision to postpone new tax avoidance rule till next year. The new legislation implies that authorities are allowed to examine deals where tax avoidance might have taken place by transferring investments through other countries. However, experts claim that new legislation may put off foreign investors. After the data release, the Rupee appreciated by 1.5% against its US counterpart and INR/USD traded at 52.91.


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Tue, 08 May 2012 06:29:04 GMT

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