Rupee breaks 74 paise against dollar against record low, while euro and pound hit: crude oil recovery

-


Ahmedabad. 19 March 2020, Thursday

Today, the rupee has suffered a major erosion. The rupee against the dollar could be a problem for Indian companies as they get closer to 75 rupees. The rupee has been running poorly for some time but its erosion has become a concern today. The rupee had hit a historic low of 75.10. Today it was 84 paise.

Yesterday's rise in local gold prices could not survive today after the world market. Gold was also pressured into the global market as global funds were now turning to the dollar instead of gold as an investment tool. However, with the rupee weakening against the domestic dollar and falling to an all-time low, gold prices were limited here. The government today announced a significant reduction in the tariff value of silver while the tariff value of gold remained unchanged. The impact of the coronavirus in China is slowing down and there are signs of slowing down of normal life and trade activities, which has led to the decline in crude oil.

In the local gold market, the price of 99.50 gold without 10 GST of GST, which closed yesterday at Rs 40375, was today at Rs 40453 with 40334 closing. 99.50 Gold prices closed at yesterday's close of Rs 40537 and today closed at Rs 40616 and Rs 40496. Silver also fell behind gold. .999 Silver One Kg without GST price closed at Rs 35515 today, the lowest being Rs 35200 and finally closing at Rs 35220. The rupee against the dollar was reduced to a new low.

The silver tariff value for calculating import duty has been reduced from $ 533 to $ 402 per kg while the tariff value of gold has been reduced to $ 505 per 10 grams.

Gold in the world market, which was last seen at $ 1,517.20 an ounce yesterday, was down $ 1500 today, hitting $ 1465.60 to $ 1472.10. Silver also fell $ 12.41 an ounce to $ 11.86 an ounce in the evening. The Basket Currency Dollar Index rose seven consecutive days to a new record high of 101.

Global fund houses are preferring the dollar instead of gold as an investment tool, which has strengthened the dollar. The rupee had weakened against the dollar and reached a new low today as the dollar strengthened overseas. The dollar, which closed yesterday at Rs 74.26, closed at Rs 75.32 in intraday today. The rupee has lost 74 paise against the dollar. The rupee had shown strength against the dollar and the euro against the dollar. The pound was down 183 paise at 86.58 and the euro 86 paise at Rs 80.63.

Brent crude oil rose four per cent to $ 25.80 a barrel today while crude oil was up eight per cent to $ 22.04, after crude oil fell 18 per cent in the international market yesterday. The rise in crude oil production has seen China's exit from the coronavirus impact.

Silver tariff value reduced to $ 402 per kg to calculate import duty: Yesterday's rise in gold prices could not survive yesterday.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more