Wait...

Online Export Import Data Search

Complete Training Video : Click Here

While Rupee at 70 Doesn’t Mean This Is 2013 All Over Again, India Should Still Be on Guard.


Date: 11-07-2018
Subject: While Rupee at 70 Doesn’t Mean This Is 2013 All Over Again, India Should Still Be on Guard
On June 28, 2018, the Indian rupee plunged to an all-time low of 69.10 against the US dollar amid growing concerns over tightening of global financial conditions and higher crude oil prices coupled with the worsening of domestic macroeconomic variables, especially the current account balance and inflation.

The mad rush for dollar by importers and currency speculators was halted temporarily after the central bank, RBI, aggressively intervened in the currency markets by selling dollars in both spot and forward markets to arrest the slide in the rupee.

If the RBI had not intervened in the currency markets on that day, the rupee might have breached the psychologically crucial mark of 70 to a dollar.

The RBI has not yet disclosed how much foreign exchange reserves were spent on that day, but market observers estimate that the RBI might have spent close to $2 billion in the forex markets to stem the fall in rupee value.

After a gap of four years, the RBI increased the benchmark repo rate, the rate at which the central bank lends money to banks, by 25 basis points on June 6, citing upside pressure on inflation due to rising crude oil prices which hit $80 a barrel in mid-May 2018. However, this move has not stopped the rupee from falling.

Analysts predict a weaker rupee in the coming months. It is expected to remain in the 68-72 range against the US dollar during the year amid high oil prices, tightening of global liquidity, a strong dollar and growing protectionist tendencies.

Analysts also predict one more policy rate hike by the RBI in the range of 25-50 basis points before the end of 2018.

Source: thewire.in

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: 20-09-2018
Notification No. 23/2018- Central Tax (Rate)
Seeks to insert explanation in an entry in notification No. 12/2017 – Central Tax (Rate) by exercising powers conferred under section 11(3) of CGST Act, 2017.

Date: 20-09-2018
Notification No. 02/2018 – Integrated Tax
Seeks to notify the rate of tax collection at source (TCS) to be collected by every electronic commerce operator for inter-State taxable supplies

Date: 20-09-2018
Notification No. 24/2018-Integrated Tax (Rate)
Seeks to insert explanation in an entry in notification No. 9/2017 – Integrated Tax (Rate) by exercising powers conferred under section 6(3) of IGST Act, 2017.

Date: 20-09-2018
Notification No. 23/2018-Union Territory Tax (Rate)
Seeks to insert explanation in an entry in notification No. 12/2017 – Union Territory Tax (Rate) by exercising powers conferred under section 8(3) of UTGST Act, 2017.

Date: 20-09-2018
Trade Notice No. 33 /2018
Activation of E com Module for SEIS based on ANF 3B

Date: 20-09-2018
Notification No.81/2018 - Customs (N.T.)
Amendment to Customs Exemption Notifications No. 24/2015-Customs dated 08.04.2015 to align it with amendment in Foreign Trade Policy.

Date: 20-09-2018
Notification No. 52/2018 – Central Tax
Seeks to notify the rate of tax collection at source (TCS) to be collected by every electronic commerce operator for intra-State taxable supplies

Date: 19-09-2018
Notification No.80/2018 - Customs (N.T.)
Exchange Rates Notification No.80/2018-Custom(NT) dated 19.9.2018.

Date: 19-09-2018
A.P. (DIR Series) Circular No.9
External Commercial Borrowings (ECB) Policy - Liberalisation

Date: 19-09-2018
Circular N0. 33/2018-Customs
Sanction of pending IGST refund claims where the records have not been transmitted from GSTN to DG (System)



Exim Guru Copyright © 1999-2018 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