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

India’s Rupee Rises as Exporters May Convert Overseas Earnings.


Date: 22-12-2009
Subject: India’s Rupee Rises as Exporters May Convert Overseas Earnings

​Dec. 22 (Bloomberg) -- India’s rupee rose on speculation exporters will convert overseas earnings into local currency, boosting the supply of dollars in the financial market.

Companies with overseas income may seek to exchange the greenback for rupees after the Indian currency snapped a three- month rally to retreat 0.6 percent since Nov. 30. A weaker rupee boosts the value of export earnings. The South Asian nation’s overseas sales rose 18 percent in November from a year earlier, gaining for the first time in 14 months, according to data provided last week by Trade Secretary Rahul Khullar.

“Exporters are expected to sell their dollars as currency levels look good for them to do so,” said Vikas Babu, a foreign-exchange trader at state-owned Andhra Bank in Mumbai. “The rupee may get some support from such sales.”

The rupee climbed 0.1 percent to 46.795 per dollar as of 9:47 a.m. in Mumbai, according to data compiled by Bloomberg. The currency is Asia’s best performer this quarter with a 2.8 percent gain and has advanced 4.2 percent in 2009.

Offshore contracts indicate bets the rupee will trade at 46.92 per dollar in a month, compared with expectations of 46.55 yesterday. Forwards are agreements in which assets are bought and sold at current prices for future delivery. Non-deliverable contracts are settled in dollars rather than the local currency.

Source : bloomberg.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: 19-07-2025
Notification No. 34/2025-Customs
Seeks to amend notification No. 146/94-Customs, dated the 13th July, 1994 to omit serial number 10A.

Date: 18-07-2025
Notification No. 33/2025-Customs
Seeks to amend notification No. 146/94-Customs, dated the 13th July, 1994 to provide exemption on import of Horses for Polo (HS 0101 29 10) under specified condition.

Date: 16-07-2025
Notification No. 47/2025-Customs (N.T.)
Appointment of Common Adjudicating Authority for the purpose of finalization of Provisional Assessment in SVB case w.r.t. M/s. Ammega Belting India Pvt. Ltd. -reg

Date: 15-07-2025
Notification No. 46/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 30-06-2025
Notification No. 44/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 30-06-2025
Notification No. 32/2025-Customs
Seeks to amend Notification No.130/2010- Customs dated 23.12.2010 to extend the exemption benefits to Air Canada.

Date: 13-06-2025
Notification No. 43/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 11-06-2025
Notification No. 42/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 06-06-2025
Notification No. 13/2025-Customs (ADD)
Seeks to impose Anti Dumping Duty on imports of ‘Insoluble Sulphur’ originating in or exported from China PR and Japan.

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver



Exim Guru Copyright © 1999-2025 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