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Indian Rupee weakens to 72 against US dollar for first time in 2019

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New Delhi: The rupee fell to 72 level per dollar for the first time in 2019 today amid sell off in domestic equities and weakness in Chinese Yuan, which hit 11-year low level due to the ongoing US-China trade war. The currency opened 15 paise lower at 71.96 against the dollar in trade today compared to the previous close of 71.81, down 26 paise against the American currency.

On Thursday, the Indian currency hit an eight-month low of 71.81, falling 26 paise against the dollar intraday. It finally settled at 71.81, down 26 paise against the American currency. This was the lowest level for the rupee since December 14, when it had closed at 71.90.

Tumbling equities and incessant foreign fund outflows weighed on sentiment. Also, the sudden drop in Chinese yuan led to increased volatility in emerging market currencies, including the rupee, forex dealers said.

The Sensex and Nifty closed lower on Thursday after top government officials virtually ruled out a stimulus package for slowdown-hit sectors, triggering another round of selling in banking, auto and metal stocks. The 30-share BSE Sensex sank 587.44 points, or 1.59 per cent, to finish at 36,472.93. The broader NSE Nifty slumped 177.35 points, or 1.62 per cent, to 10,741.35.

Both the key indices closed lower for the third straight session.

Today, Sensex fell another 326 points to 36,166 and Nifty lost 60 points to 10,680. In global market, China’s yuan fell to fresh 11-year lows on Thursday amid worries about the deepening Sino-US trade war, despite support from major state-owned banks in both the spot and forwards markets. This also weakened sentiment for rupee at home.

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TRAI recommends that shifting from 10-digit to 11-digit numbering scheme,Then everyone’s mobile number in India will change

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TRAI recommends that shifting from 10-digit to 11-digit numbering scheme in case of mobile numbers. The regulator says that this new change will add a total capacity of 10 billion numbers.

TRAI, ( Telecom Regulatory Authority of India), on Friday released its latest recommendations to develop a ‘Unified Numbering Plan’ to ensure adequate number of resources for fixed lines aka landlines and mobile services in the country. This will cause the current phone number to change – the current mobile numbers will need to be applied “0” to dial from the fixed line connection. The regulator said in a statement that these recommendations are based on input from various stakeholders and discussions during the Open House Discussion (OHD). Of all the points encountered in the recommendations, one of the main points is to switch the digits from 10 to 11 in the case of regular mobile numbers. This means zero will be added next to the existing mobile number. However, new phone numbers may start with different digits.

Here,The recommendations are going to be shared, which can change the existing numbering system for both fixed line and mobile service.

  1. To call mobile numbers with a fixed line connection, it is mandatory to put “0” before the number. Please tell that it is not necessary to dial “0” to call a mobile number from a fixed line phone. According to the new recommendation, just as you dial an inter-service area mobile call from a fixed line phone, you must prefix the “0” to call the mobile phone within the service area as well.
  2. Shifting from 10-digit to 11-digit numbering scheme in case of mobile numbers – Another major recommendation by TRAI is to switch from 10 to 11 digits for mobile numbers, with the first digit being “9”. The regulator says that this new change will add a total capacity of 10 billion numbers.
  3. The number of mobile numbers distributed for the dongle should be converted to 13 digits – Like the numbers associated with our mobile phones, various devices such as dongles and data cards currently have a 10-digit numbering system. Now the new recommendation states that such devices should be increased from the current 10-digit to 13-digit.
  4. Moving fixed line numbers to sub-levels of “2” or “4” – Some operators had some time ago issued landline connections to numbers starting with “3”, “5” and “6”, which are now Not in service. TRAI recommends taking these closed connections to sub-levels of “2” or “4”. This will allow mobile operators to use these closed connection numbers for future mobile phone connections.
  5. All fixed line connections must come with the “0” dialing feature – currently, fixed line users who have opted for Subscriber Trunk Dialing (STD) are only given the “0” dialing feature. However, TRAI recommends allowing all fixed line customers to use the “0” dialing facility. This is necessary because mobile numbers will be required to dial from landline numbers with a “0” prefix.
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