Discover and read the best of Twitter Threads about #worldgoldcouncil

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THIS IS #BIG ! #Hawala 2.0 Will EXPLODE in India post JULY 1st. Just My opinion:

By IMPLEMENTING 20% Tax Collected On Source (#TCS) on Foreign Spend (Currency, FX cards, Credit Cards, Debit Cards, Transfers), it becomes Increasingly more Cost Effective to Transfer Via #Hawala Image
If you try and BUY #Foreign Currency in the Black, that spread that used to be 2-3%, will now become 10% possibly

Unused Balances of Loaded Forex Cards will Go at a Premium of 10-12% Image
This REMINDS me of what happened in GOLD SMUGGLING in India post June 2022 when @nsitharaman decided to Raise IMPORT duty on GOLD to 12.5% from previous levels of 7.5% ImageImage
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