Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Rupee rises 6 paise against US dollar in early trade.


Date: 17-06-2022
Subject: Rupee rises 6 paise against US dollar in early trade
Mumbai, The rupee strengthened by 6 paise to 78.04 against the US dollar in opening trade on Friday as easing crude oil prices supported the local unit. However, unabated foreign fund outflows, a lacklustre trend in domestic equities and strong American dollar overseas restricted the gain, forex dealers said.

At the interbank foreign exchange, the rupee opened strong at 78.03 against the US dollar, then inched lower to quote 78.04, registering a rise of 6 paise over the last close.

In the previous session, the rupee had closed at 78.10 against the US dollar.

On the domestic equity market front, the 30-share Sensex was trading 251.06 points or 0.49 per cent lower at 51,244.73, while the broader NSE Nifty fell 90.15 points or 0.59 per cent to 15,270.45.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.60 per cent to 104.25.

Global oil benchmark Brent crude futures slipped 0.78 per cent to USD 118.88 per barrel.

Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 3,257.65 crore, as per exchange data.

Meanwhile, an RBI article has said India is better placed than many other countries to avoid the risks of potential stagflation with recovery broadly on track, notwithstanding an increasingly hostile external environment.

The government does not see any adverse impact on the Indian economy post the US Federal Reserve's decision to raise interest rates by 75 basis points, Economic Affairs Secretary Ajay Seth said on Thursday.

"All central banks are grappling with it and taking adequate measures which are needed to control the inflation. I see a fair amount of coordination ...directly or indirectly they are moving in tandem," Seth told reporters.

"So, I don't see any adverse impact of that (rate hike by Fed) because Reserve Bank of India, in the two previous cycles, has already taken adequate measures," he said.

On Wednesday, the US Federal Open Market Committee, on expected lines, raised the target range for federal funds rate by 75 basis points to 1.50-1.75 per cent. It also said it would hike rates aggressively for the rest of the calendar year.

The Reserve Bank of India (RBI) turned net purchaser of the US currency in April, after it bought USD 1.965 billion from the spot market, according to RBI's monthly bulletin for June. PTI BAL ANU ANU

Source Name:-Economic Times










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: 08-08-2022
Notification No. 67/2022 Customs (N.T.)
Passenger Name Record Information Regulations, 2022.

Date: 04-08-2022
Notification No. 66/2022 - Customs (N.T.)
Exchange rate Notification No.66/2022-Cus (NT) dated 04.08.2022-reg.

Date: 03-08-2022
Notification No. 24/2022-Customs (ADD)
seeks to impose anti-dumping duty on Opal Glassware from UAE & China PR for a period of 5 years.

Date: 02-08-2022
Notification No. 22/2022-Central Excise
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude and exempt export of Aviation Turbine Fuel.

Date: 02-08-2022
Notification No. 21/2022-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022, to reduce the Special Additional Excise Duty on Diesel.

Date: 01-08-2022
NOTIFICATION No. 17/2022 – Central Tax
Seeks to implement e-invoicing for the taxpayers having aggregate turnover exceeding Rs. 10 Cr from 01st October, 2022.

Date: 23-07-2022
Notification No. 44/2022-Customs
Seeks to amend notification No. 49/2021 - Customs, dated 13.10.2021, in order to extend the concessional Agriculture Infrastructure and Development Cess [AIDC] of Nil on Lentils (Mosur) up to and inclusive of the 31st March, 2023.

Date: 21-07-2022
Notification No. 64 /2022 - Customs (N.T.)
Exchange rate Notification No.64/2022-Cus (NT) dated 21.07.2022-reg.

Date: 20-07-2022
Notification No. 43/2022-Customs
Seeks to amend notification No. 22/2022-Customs, dated 30.04.2022 to enable TRQ holders to import gold through IIBX under TRQ mechanism of India-UAE CEPA .

Date: 19-07-2022
Notification No. 19/2022-Central Excise
Seeks to exempt the excisable goods, namely Petrol, Diesel and Aviation Turbine Fuel from Special Additional Excise Duty and Road and Infrastructure Cess when exported from units located in the Special Economic Zones (SEZ).



Exim Guru Copyright © 1999-2022 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 InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001