BREXIT & my Investments
Brexit, a referendum on UK, whether to stay in the European Union or not, is finally over with 52% voters demanding an EXIT (48% is in favour of European Union). Sensex which opened with a gap of 1000 points today, with some recovery closed with 600 points down. International markets went for a full hara-kiri with 5% to 10% dive.
Will it affect India?
With European Union (EU) losing one of its members, India too can feel the heat. Rupee may depreciate because of the double effect of foreign fund outflow and dollar rise, and may lead to increase in petrol and diesel prices to an extent. The government then may want to reduce additional excise duty imposed on fuel when it was on a downward trajectory. This will