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India Panics, Further Tightens Gold Flows As Rupee Collapses

India Panics, Further Tightens Gold Flows As Rupee Collapses Well, that escalated quickly... With the Rupee accelerating its declines to ever lower record lows against the dollar, Indian authorities have stepped up capital controls, focusing on curbing demand in the gold 'exit' route. 4 days ago, there were no signs of import duty hikes as Prime Minister Narendra Modi  issued a rare weekend appeal urging citizens to forgo gold purchases as well as unnecessary foreign travel in order to help hold up the currency.. 2 days ago, tariffs were more than doubled on gold...
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Feb 26, 2026 / Tyler Durden
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