Indian rupee remained unchanged against the U.S. dollar on Wednesday as duty-led compression of gold imports helped offset the impact of elevated crude oil prices. The government of India has sharply raised import tariffs on gold and silver to 15% from 6% on May 13, 2026. The hike in import duty is aimed at curbing non-essential imports and conserving foreign exchange reserves strained by higher oil and fertiliser purchases amid the West Asia conflict. Meanwhile, Chief Economic Advisor (CEA) V Anantha Nageswaran has said the current West Asia crisis is effectively a live stress test for India's balance of payments, with direct consequences for inflation, the current account, and the exchange rate. On the global front, the British pound has weakened against the U.S. dollar on Wednesday amid growing fears of political instability.
Finally, the rupee ended at 95.68 (Provisional), remained unchanged from its previous close of 95.68 on Tuesday. The currency touched a high and low of 95.80 and 95.51 respectively.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: