Thursday, July 4, 2013

Commodity Market turnover decreased by CTT

Commodity exchanges turnover is falling steadily. Whereas, in the currency market turnover has risen strongly. In April last year the domestic forex market turnover was around Rs 25500 crore. Rs 41,000 crore in February this year has increased.

The 42,000 crore till May and in June, just one month later, i.e. average daily turnover in the forex market is Rs 62,000 crore. From February to June this year just in terms of turnover in the forex market is 50 per cent. The turnover of commodity exchanges in the steep decline of 40 per cent.

It is believed that in February Commodity Transaction Tax (CTT) announced the turnover of commodity exchanges is falling steadily since. In July, the CTT is applied, since the pressure has come on turnover of commodity exchanges.

Analysts believe that Jobbers especially small - smaller deals tend to target, rather than commodity currency markets are attract. In the currency market is likely to see an increase in business.


mcx tips today said...

BUY CRUDE OIL JULY ABOVE 6090 TGT 6100, 6130, 6160 STOPLOSS 6010
mcx gold tips
metal tips

sachin Dubey said...

Today The Reserve Bank of India raised Rs 150 billion ($2.5 billion) through a bond auction, with a cut-off price of Rs 97.81, yielding 7.4759 percent on the 7.16 per cent 2023 bond. Get FREE STOCK TIPS and TODAY STOCK TIPS

Post a Comment

Note: Only a member of this blog may post a comment.

Twitter Delicious Facebook Digg Stumbleupon Favorites More

Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | Best Hostgator Coupon Code