Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Rupee stems losses, rallies 54 paise to 71.24 vs USD on easing oil prices.


Date: 19-09-2019
Subject: Rupee stems losses, rallies 54 paise to 71.24 vs USD on easing oil prices
Snapping its two-day falling streak, the rupee rebounded 54 paise to finish at 71.24 against the US dollar on Wednesday as sliding crude oil prices eased pressure off emerging market currencies. However, unabated foreign fund outflows capped the gains, forex traders said.

Global equities and oil markets stabilised after Saudi Arabia's energy minister said production capacity at its plant targeted by drone attacks over the weekend would be fully restored by the end of the month.

At the Interbank Foreign Exchange, the rupee opened at 71.47 and surged to an intra-day high of 71.17 against the US dollar. The local unit finally settled at 71.24, higher by 54 paise over its previous close of 71.78.

"Indian rupee led gains in emerging market Asian currencies as crude prices eased after Saudi Arabia partially restored production at its damaged oil plant," HDFC Securities Head PCG and Capital Markets Strategy V K Sharma said.

Sharma further said lower crude oil prices calmed concerns about inflation and the fiscal side which will provide room for the RBI to lower interest rate in the coming October meet.

The Reserve Bank of India, which has already reduced the key policy rate four times in the current calendar year, is scheduled to announce its next bi-monthly monetary policy on October 4.

Market participants were also awaiting cues from the much-anticipated policy meeting of the US Federal Reserve, traders said.

Meanwhile, crude oil benchmark, Brent Futures on Wednesday witnessed some moderation and was trading at USD 64.32 per barrel, down 0.36 per cent.

Foreign institutional investors (FIIs) offloaded equities worth a net Rs 959.09 crore on Wednesday, provisional exchange data showed.

On the domestic markets front, the 30-share BSE Sensex ended 82.79 points, or 0.23 per cent, higher at 36,563.88. Similarly, the broader NSE Nifty gained 23.05 points, or 0.21 per cent, to finish at 10,840.65.

The 10-year government bond yield was at 6.62 per cent.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.20 per cent to 98.46.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.8196 and for rupee/euro at 78.9613. The reference rate for rupee/British pound was fixed at 89.1219 and for rupee/100 Japanese yen at 66.36.

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: 12-04-2021
Notification No. 21/2021-Customs (ADD)
Seeks to impose anti-dumping duty on imports of Normal Butanol or N-Butyl alcohol originating in or exported from European Union, Malaysia, Singapore, South Africa and United States of America for a further period of 5 years.

Date: 11-04-2021
Notification No. 01/2015-2020
Amendment in Export Policy of Injection Remdesivir and Remdesivir API.

Date: 09-04-2021
Public Notice No. 53/2015-2020-DGFT
Late cut for MEIS applications for exports made in the Financial Year 2019-20

Date: 08-04-2021
Notification No. 08/2021-Central Excise
Seeks to amend central excise notifications to make changes consequential to enactment of Finance Act, 2021.

Date: 08-04-2021
Notification No. 26/2021 – Customs
Seeks to amend customs notifications to make changes consequential to enactment of Finance Act, 2021.

Date: 07-04-2021
Public Notice No. 52/2015-2020
Change of office address of Regional Authority, Ahmedabad.

Date: 07-04-2021
A.P. (DIR Series) Circular No. 01
External Commercial Borrowings (ECB) Policy – Relaxation in the period of parking of unutilised ECB proceeds in term deposits

Date: 05-04-2021
Notification No. 41/2021-Customs (N.T.)
Seeks to notify Customs (Verification of Identity and Compliance) Regulations, 2021

Date: 05-04-2021
Notification No. 20/2021 -Customs (ADD)
Seeks to impose definitive anti-dumping duty on imports of Flexible slabstock polyol originating in or exported from Saudi Arabia and United Arab Emirates for a period of five years.

Date: 01-04-2021
Trade Notice No. 01/2021-2022
Electronic filing and Issuance of Preferential Certificate of Origin (CoO) for India’s Exports under India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (IMCECPA) w.e.f. 01st April 2021



Exim Guru Copyright © 1999-2021 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