Wait...
  1. Home >
  2. Export Import News >
  3. Foreign Exchange >
  4. Rupee reverses 2-day losing streak, edges up 5 paise to 70.41 against US Dollar >
  5. Rupee reverses 2-day losing streak, edges up 5 paise to 70.41 against US Dollar

Online Export Import Data Search

Complete Training Video : Click Here

Rupee reverses 2-day losing streak, edges up 5 paise to 70.41 against US Dollar.


Date: 11-01-2019
Subject: Rupee reverses 2-day losing streak, edges up 5 paise to 70.41 against US Dollar
Snapping its two-session slide, the rupee ticked higher by 5 paise to close at 70.41 per US dollar on January 10 on increased selling of the greenback by exporters amid easing crude oil prices.

Forex traders said the American currency weakened after minutes of Federal Reserve's policy meeting triggered uncertainty about future rate hikes.

At the interbank foreign exchange market, the rupee opened weak at 70.49 a dollar against its previous close of 70.46.

The local unit moved in a range of 70.66 to 70.32, before finally ending at 70.41, showing a gain of 5 paise.

The rupee had depreciated by 78 paise in the previous two sessions.

"The US dollar slipped on January 10 in Asia after the Federal Reserve indicated in the minutes of its December meeting that it was willing to hold off on rate hikes amid concerns about global growth and subdued inflation," said V K Sharma, Head PCG and Capital Markets Strategy, HDFC Securities.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.07 percent to 95.29 in late afternoon trade.

"Overall the rupee is expected to be driven by global factors and the upcoming political factors in the domestic market. Near term the rupee is expected to trade in 69.50 to 72 band," said Rushabh Maru, Research Analyst Anand Rathi Shares and Stock Brokers.

Overnight losses in crude oil also supported early gains in the rupee, analysts said.

Brent crude, the global benchmark, was trading at $60.95 per barrel, lower by 0.80 percent.

Meanwhile, foreign funds sold shares worth Rs 344.58 crore on a net basis on January 10, while domestic institutional investors bought equities to the tune of Rs 10.98 crore, provisional data showed.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.5135 and for rupee/euro at 81.4920. The reference rate for rupee/British pound was fixed at 90.1656 and for rupee/100 Japanese yen at 65.40.

Source: moneycontrol.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: 27-12-2018
PUBLIC NOTICE NO. 64 /(2015-2020)
Increased validity and utilisation of the norms ratified by Norms Committee (NC) under Para 4.12 of Hand Book of Procedures 2015-2020 of the Advance Authorization obtained under para 4.07, by other applicants of advance authorisations - reg

Date: 27-12-2018
Policy Circular No. 14/2015-2020
Preparation of Minutes of Norms Committees (NCs).

Date: 20-12-2018
Notification No.99/2018 - Customs (N.T.)
Exchange Rates Notification No.99/2018-Custom(NT) dated 20.12.2018

Date: 18-12-2018
Public Notice No. 61 /2015-20
List of capital goods not permitted-permitted for import under the EPCG Scheme

Date: 17-12-2018
Notification No. 81/2018–Customs
Seeks to partially mend notification No. 37/2017-Customs dated 30.06.2017 in order to exempt BCD and IGST for imports by NTRO.

Date: 17-12-2018
Public Notice No. 60/2015-2020
Amendment in the Appendix 3B, Table 2 of the Merchandise Exports from India Scheme (MEIS)

Date: 15-12-2018
Notification No. 80/2018-Customs
Seeks to further postpone the implementation of increased customs duty on specified imports originating in USA from 17th December, 2018 to 31st January, 2019.

Date: 15-12-2018
Notification No. 80/2018-Customs
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver - Reg.

Date: 13-12-2018
NOTIFICATION No. 57/2018-Customs (ADD) New
Seeks to levy definitive anti-dumping duty on the imports of "Uncoated Copier Paper" originating in or exported from Indonesia, Thailand and Singapore.

Date: 12-12-2018
PUBLIC NOTICE NO. 58/(2015-2020)
Amendment of Para 2.63 of the Handbook of Procedure (2015-20).



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