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Gold imports rose in May, silver imports decline
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SME Times News Bureau | 27 Jun, 2021
Gold worth $679.16 million (Rs 4,976.07 crore) was
imported in May, according to Commerce Ministry data. This is multiple
times higher than $76.31 million worth of gold imported in May last year
amid a nationwide lockdown.
Further, for the April-May period of
FY22, import of the yellow metal stood at $6.91 billion, against $79.14
million worth of gold during the same period of last fiscal.
Although the import of gold has recovered with improving demand, silver imports, on the other hand, have depleted.
Silver
worth $15.66 million was imported last month, 95.3 per cent lower on a
year-on-year basis. Further, so far in FY22, $27.56 million worth of
silver has been imported, nearly 94 per cent lower than the imports
during the corresponding period of last fiscal.
On the other
hand, export of gems and jewellery from India surged multi-fold to $6.34
billion during the period of April-May FY22 on a year-on-year basis. In
May, gems and jewellery exports surged to nearly $3 billion, from $1.06
billion in May FY21.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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