Wait...
  1. Home >
  2. Export Import News >
  3. Foreign Exchange >
  4. Rupee rises 3 paise to 70.46 against US dollar >
  5. Rupee rises 3 paise to 70.46 against US dollar

Online Export Import Data Search

Complete Training Video : Click Here

Rupee rises 3 paise to 70.46 against US dollar.


Date: 06-12-2018
Subject: Rupee rises 3 paise to 70.46 against US dollar
The rupee ticked higher by 3 paise to 70.46 against the US dollar Wednesday amid weakness in the greenback and easing crude oil prices. 

Forex traders said the rupee's rise was supported by dollar-selling by exporters and banks. 

Meanwhile, the Reserve Bank of India Wednesday left the repo rate unchanged at 6.5 per cent while maintaining the stance of 'calibrated tightening' of policy. 

At the Interbank Foreign Exchange (forex) market, the rupee opened lower at 70.70 and lost further ground to hit a low of 70.75. 

The local unit, however, pared the initial losses and finally ended the session at 70.46 to the US dollar, up 3 paise. 

On Tuesday, the rupee had slipped 3 paise to close at 70.49 due to increased demand for the American currency from importers. 

Brent crude, the international benchmark, was trading 0.32 per cent lower at USD 61.88 per barrel Wednesday. 

Traders said the rupee came under pressure during the session following heavy selling in domestic equities amid foreign fund outflows. 

"RBI has maintained status quo on policy rates in line with consensus expectations. To address liquidity issues, the SLR requirement would be gradually brought down to 18 per cent from 19.5 per cent currently. 

"Bonds added to the rally and we expect the positive impact of the same to rub off on equities as the global cues turn benign," said Gaurav Dua, Head of Research, Sharekhan by BNP Paribas. 

Benchmark equity indices fell for the second straight day Wednesday. The BSE Sensex tumbled 249.90 points, or 0.69 per cent, to close at 35,884.41. Similarly, the broader NSE Nifty fell 84.55 points, or 0.74 per cent, to end at 10,784.95. 

Meanwhile, foreign investors net sold shares worth Rs 357.82 crore Wednesday, provisional data showed. 

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.5171 and for rupee/euro at 79.8366. The reference rate for rupee/British pound was fixed at 89.4458 and for rupee/100 Japanese yen at 62.37. 

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: 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: 13-05-2019
TRADE NOTICE NO. 12/2019-20
Discontinuing submission of physical copy of RCMCs with effect from 1.7.2019 while filling application for incentives/entitlements under FTP

Date: 13-05-2019
Notification No. 20/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI-reg.

Date: 13-05-2019
Notification No. 21/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI-reg.



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