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Centre suspends futures trade in 7 agri commodities
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SME Times News Bureau | 20 Dec, 2021
To check inflationary pressure, India on Monday suspended trade in
futures contracts of some agricultural commodities for one year.
As
per a Ministry of Finance notification, these agri commodities include
wheat, paddy (non-basmati) chana, mustard seeds and its derivatives,
soya bean and its derivatives, crude palm oil and moong.
"Futures
trading is to be suspended with immediate effect for one year in
respect of the following commodities paddy (non-basmati), wheat, chana,
mustard seeds and its derivatives, soya bean and its derivatives, crude
palm oil and moong," the Ministry said in a notification.
Industry
insiders opined that the move is in consonance with the Centre's goal
to drive down inflation while maintaining a growth oriented liquidity
stand.
Macro-data, released earlier this month, showed that
higher prices of commodities, food items and fuels lifted India's
November consumer and wholesale inflation gauges.
According to data, CPI inflation jumped to three-months high of 4.9 per cent which was led by higher core inflation.
Similarly,
the annual rate of inflation, based on wholesale prices, rose to a new
record high of 14.23 per cent last month from 12.54 per cent in October.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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