Wait...
  1. Home >
  2. Export Import News >
  3. Foreign Exchange >
  4. Rupee spurts to over 2-month high on unabated foreign fund inflows >
  5. Rupee spurts to over 2-month high on unabated foreign fund inflows

Online Export Import Data Search

Complete Training Video : Click Here

Rupee spurts to over 2-month high on unabated foreign fund inflows.


Date: 13-03-2019
Subject: Rupee spurts to over 2-month high on unabated foreign fund inflows
The rupee on Tuesday gained 18 paise to close at more than two-month high of 69.71 against the US dollar propelled by foreign capital inflows and a weaker greenback in overseas markets. Dollar selling by exporters and banks also supported the domestic currency, forex dealers said.

Foreign investors continued to pour in capital into Indian markets Tuesday amid growing risk appetite for riskier assets.

According to provisional exchange data, FPIs put in Rs 2,477 crore on a net basis in capital markets Tuesday. They had invested a net Rs 3,810.60 crore on Monday.

"Rupee gains for a second day as risk-on sentiment boosts hopes of more inflows into the domestic equity and debt market. The benchmark BSE Sensex closed at five-month high with whopping gain of 1.30 per cent," V K Sharma, Head PCG & Capital Markets Strategy, HDFC Securities observed.

The US dollar index -- a measure of the greenback's strength against a basket of major global currencies -- was lower by 0.17 per cent at 97.012.

The British pound rose against the dollar after British Prime Minister Theresa May struck a revision to the Brexit deal that she expects would sail through parliament.

At the Interbank Foreign Exchange, the rupee opened at 69.73 and advanced 25 paise to 69.64 on strong gains in equity markets.

Later, it trimmed some of the gains to end up by 18 paise or 0.26 per cent at 69.71, the highest closing level since January 1. The rupee had gained 25 paise Monday.

The 30-share BSE index settled 481.56 points, or 1.30 per cent, higher at 37,535.66. The broader NSE Nifty reclaimed the psychological 11,300-level and closed with gains of 133.15 points, or 1.19 per cent, at 11,301.20.

Analysts said that foreign funds poured money in domestic equity market by pricing in second term for the incumbent NDA government.

Meanwhile, Brent crude, the global oil benchmark, rose 23 cents to USD 66.81 per barrel on account of healthy demand and output cuts led by producer group OPEC.

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: 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