Wait...
  1. Home >
  2. Export Import News >
  3. Foreign Exchange >
  4. Rupee opens 34 paise up at 70.56 against dollar >
  5. Rupee opens 34 paise up at 70.56 against dollar

Online Export Import Data Search

Complete Training Video : Click Here

Rupee opens 34 paise up at 70.56 against dollar.


Date: 07-12-2018
Subject: Rupee opens 34 paise up at 70.56 against dollar
The rupee on Friday opened 34 paise higher at 70.56 against the US dollar on account of softening crude oil prices in the international market. 

Oil prices fell on Friday, pulled down by OPEC’s decision to delay a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia. Brent crude was trading sub-$60 per barrel in the international benchmark. 

The local currency depreciated by 44 paise to close at 70.90 against the US dollar on Thursday following a sharp decline in equity markets. The benchmark equity indices BSE Sensex and NSE Nifty plunged over 1.50 per cent in the previous trading session. 

According to ICICIdirect, the rupee weakened sharply on Thursday amid concerns on steep oil supply cuts by OPEC and other members. However, the meeting ended without a supply deal as Russia has not yet committed. 

The US dollar declined as risk sentiment improved amid ebbing risks of higher prices as of now. Investors will await US November employment details as well as Fed monetary policy meeting. “Any dovish assessment shall see the dollar declining swiftly,” ICICIdirect said. 

Accoriding to Motial Oswal Financial Services, USDINR pair is expected to quote in the range of 70.30 and 71.20 on Friday. 

“Dollar came under pressure following renewed speculation of an imminent pause in the Federal Reserve’s tightening cycle. Market participants will now be keeping an eye on the non-farm payrolls number and expectation is that the US economy could see job addition of 198,000 jobs in November compared to 250,000 jobs in the previous month. Lower-than-expected job addition could continue to keep the greenback under pressure,” Motial Oswal said in a report. 

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 16-05-2019
Notification No.37/2019 - Customs (N.T.)
Exchange Rates Notification No.37/2019-Custom(NT) dated 16.05.2019

Date: 16-05-2019
Trade Notice No. 15/2015-2020
Claim of MEIS benefits for exports made to countries in the OFAC List such as Iran and for Vostro Payments

Date: 16-05-2019
TRADE NOTICE No. 16/2019-20
Prohibition on direct or indirect import and export from/to DPRK (Democratic People's Republic of Korea) in terms of UNSC resolutions concerning DPRK - Para 2.17 of the Foreign Trade Policy 2015-20

Date: 15-05-2019
Notification No. 36/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 15-05-2019
Trade Notice No. 14/2015-2020
Three months time window for applying for MEIS for shipping bills with HS Codes which were harmonized and notified under MEIS Appendix 3B, Table 2 after a delay

Date: 15-05-2019
Policy Circular No. 23/2015-20
Non-requirement of submission of Hard copy of application at RAs for issue of Advance Authorisation (AA) & EPCG Authorisation

Date: 15-05-2019
ECA Circular No. 24
Administrative Review of Adjudication Orders passed by subordinate officers - regarding.

Date: 14-05-2019
TRADE NOTICE NO. 13/2019-20
Imports of Maize (feed grade) under the TRQ Scheme for 2019-20.

Date: 14-05-2019
Notification No. 15/2019-Customs
Seeks to further amend notification No. 50/2017-customs dated 30th June 2017 to postpone the implementation of increased customs duty on specified imports originating in USA from 16th May, 2019 to 16th June, 2019.

Date: 14-05-2019
Public Notice No. 8/2015-20
Amendment in the Para 3.01 (b) of the Handbook of Procedures



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001