Rupee trades lower at 69.74 per dollar

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Rupee trades lower at 69.74 per dollar The Indian rupee is trading lower at 69.74 per dollar versus previous close 69.67. On Monday the rupee ended 32 paise lower at 69.67 against the US dollar on the back of surge in crude oil prices. The dollar-rupee April contract on the NSE was at 69.71 in the previous session. April contract open interest increased 7.23% in the previous session, said ICICIdirect. We expect the USD-INR to meet supply pressure at higher levels. Utilise the upsides in the pair to initiate short positions, it added.

ISRO Successfully Launches GSAT-6A Communication Satellite

India on Thursday successfully launched the GSAT-6A satellite that would provide mobile
 communication facilities, using its heavy rocket Geosynchronous Satellite Launch Vehicle
 (GSLV-F08), in a copybook style.
The GSLV-MkII rocket slung the satellite in a geosynchronous transfer orbit (GTO) from
where it would be taken up to its final geostationary orbit by three orbit raising manoeuvres.
ISRO's scientists at the mission control centre were visibly happy, slapping each others' backs
 and hugging each other once the rocket ejected the satellite into the intended orbit.
Precisely at 4.56pm, the GSLV rocket ascended into the sky from the second launch pad
here at Satish Dhawan Space Centre and the 49.1-metre tall rocket, weighing 415.6 tonnes,
 slung the two-tonne satellite into the intended orbit 17.46 minutes into its flight.
The purpose of the satellite is to provide mobile communication applications in S-band in five
 spot beams and C-band in one beam during its 10-year lifespan.
The Indian Space Research Organisation (ISRO) said that the GSAT-6A was similar to the
GSAT-6 put into orbit in 2015.
The GSLV is a three stage/engine rocket. The core of first stage is fired with solid fuel while
 the four strap-on motors by liquid fuel. The second stage is the liquid fuel-propelled and the
 third is the cryogenic engine.
According to ISRO, two improvements - induction of high-thrust Vikas engine and
 electromechanical actuation system - have been made in the rocket's second stage this
 time around.
One of the crucial rocket engines is the cryogenic engine, designed and developed by ISRO,
and more efficient than the other two variants as it provides more thrust for every kilogram
 of propellant burnt.
With this successful launch, India established the performance of its GSLV-MkII rocket which
 in future may fetch orders from third parties for launching their satellites.
India puts into orbit foreign satellites for a fee using its lighter rocket - the Polar Satellite
 Launch Vehicle (PSLV) as their weight is not much.
Revenue for launching satellites depends on the weight of the satellite - higher the weight,
 higher will be the revenue.
According to the latest Economic Survey, foreign exchange earnings of India from export of satellite launch services increased noticeably in 2015-16 and 2016-17 to Rs. 394 crores and Rs. 275 crores from Rs 149 crores in 2014-15.

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