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

Rupee rises 17 paise to close at 79.23 against US dollar.


Date: 06-08-2022
Subject: Rupee rises 17 paise to close at 79.23 against US dollar
The rupee appreciated by 17 paise to close at 79.23 (provisional) against the US dollar on Friday after the Reserve Bank hiked interest rates by 50 basis points. At the interbank foreign exchange market, the domestic currency opened at 79.15 per dollar. It hovered in a range of 78.94 to 79.29 during the session.

The domestic unit finally settled at 79.23, up 17 paise over its previous close of 79.40.

The Reserve Bank on Friday raised the key interest rate -- the third straight increase since May -- in an effort to cool stubbornly high inflation and defend the rupee.

The repurchase rate was raised by 50 basis points to lift the interest rate to the pre-pandemic level. The 5.40 per cent repo rate was last seen in August 2019.

Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was up 0.25 per cent at 105.95.

Forex traders said foreign fund inflows into capital markets and softening crude oil prices boosted the local currency.

Foreign institutional investors remained net buyers in the capital market on Thursday as they purchased shares worth Rs 1,474.77 crore, as per exchange data.

Brent crude futures, the global oil benchmark, rose 0.20 per cent to USD 94.31 per barrel.

Reserve Bank of India (RBI) Governor Shaktikanta Das said the RBI will remain watchful and maintain the stability of the rupee.

"The depreciation of the Indian rupee is more on account of the appreciation of the US dollar rather than weakness in macroeconomic fundamentals of the Indian economy. Market interventions by the RBI have helped in containing volatility and ensuring the orderly movement of the rupee," he said.

On the domestic equity market front, the BSE Sensex ended 89.13 points or 0.15 per cent higher at 58,387.93, while the broader NSE Nifty advanced 15.50 points or 0.09 per cent to 17,397.50.
  
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: 21-09-2023
Notification No. 68/2023 - Customs (N.T.)
Exchange Rate Notification No. 68/2023-Cus (NT) dated 21.09.2023-reg.

Date: 18-09-2023
Notification No. 46/2023-Central Tax
Seeks to appoint common adjudicating authority in respect of show cause notice issued in favour of M/s Inkuat Infrasol Pvt. Ltd.

Date: 15-09-2023
Notification No. 56/2023-Customs
Seeks to amend No. 19/2019-Customs

Date: 15-09-2023
Notification No. 30/2023-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 reduce the Special Additional Excise Duty on export of ATF

Date: 15-09-2023
Notification No. 31/2023-Central Excise
dated the 30th June, 2022 , to reduce the Special Additional Excise Duty on export of Diesel.

Date: 15-09-2023
Notification No. 67/2023-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 14-09-2023
Notification No. 54/2023-Customs
seeks to amend notification no. 50/2017-Customs in order to amend various entries relating to Project Imports as a result of Project Import review.

Date: 11-09-2023
Notification No. 09/2023-Customs (ADD)
Seeks to impose ADD on imports of " Flat base steel wheels" originating in and exported from China PR for a period of 5 years.

Date: 06-09-2023
NOTIFICATION No. 45/2023 – Central Tax
Seeks to make amendments (Third Amendment, 2023) to the CGST Rules, 2017.

Date: 06-09-2023
Notification No. 64/2023 - Customs (N.T.)
Exchange Rate Notification No. 64/2023-Cus (NT) dated 06.09.2023-reg



Exim Guru Copyright © 1999-2023 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