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: 16-02-2019
Notification No.05/2019-Customs
seeks to insert tariff item 9806 00 00 in chapter 98 of the First schedule to Customs tariff act, 1975 to impose basic customs duty of 200% on all goods originating in or exported from Pakistan.

Date: 15-02-2019
Notification No. 10/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg.

Date: 15-02-2019
Notification No.11/2019 - Customs (N.T.)
Exchange Rates Notification No.11/2019-Custom(NT) dated 15.02.2019.

Date: 08-02-2019
Notification No. 8/2019 – Central Tax
Seeks to extend the due date for furnishing of FORM GSTR – 7 for the month of January, 2019 till 28.02.2019

Date: 07-02-2019
Notification No.09/2019 - Customs (N.T.)
Exchange Rates Notification No.09/2019-Custom(NT) dated 07.02.2019.

Date: 07-02-2019
Notification No. 4 /2019- Customs
Seeks to further amend Notification No. 08/2016- customs dated the 5th February 2016 to allow temporary importation of aircrafts, for the purposes of participation in Aero Show organised by the Central Government, without furnishing a bank guarantee or cash deposit.

Date: 06-02-2019
Notification No. 08/2019 - Customs (N.T.)
Amendment of CBLR 2018

Date: 04-02-2019
Notification No. 2/2019- Integrated Tax (Rate)
Seeks to rescind Sl. No. 10D of Notification No. 09/2017-Integrated Tax (Rate) dated 28.06.2017 in relation to exemption of IGST on supply of services having place of supply in Nepal or Bhutan, against payment in Indian Rupees.

Date: 01-02-2019
Notification No. 4/2019-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI-reg.

Date: 31-01-2019
Notification No. 07/2019 – Central Tax
Seeks to extend the due date for furnishing of FORM GSTR – 7 for the months of October, 2018 to December, 2018 till 28.02.2019.



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