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Rupee recovers, opens 25 paise up against US dollar
Posted on 10th October 2018
The rupee on Wednesday opened 25 paise up at 75.14 against the US dollar. The domestic unit fell 33 paise on Tuesday to finish at a fresh lifetime low of 74.39 against on high crude oil prices, strengthening of the greenback and unabated foreign fund outflows.

Government bonds on Tuesday declined sharply as the rupee weakened to new lows amid a rise in oil prices as well as tightening US yields.


Forex dealers said besides strong demand for the American currency from importers, concerns over rising fiscal deficit and capital outflows weighed on the domestic currency.

Foreign institutional investors (FII) were net sellers to the tune of Rs 3,402 crore on October 8, 2018. FIIs have been net sellers to the more than Rs 14,807 crore in October 2018.
"The balance of payments (BoP) turning negative has led to a sharp depreciation in rupee in the past two months. With steep depreciation over the past two months, the rupee is now the worst performing currency against the US dollar in Asia so far this year, down 13.4 per cent," PTI reported quoting global brokerage firm Nomura as saying in a research report.

Nomura further noted that policy responses to the depreciating currency have been muted thus far and with limited policy response, the concerns on the rupee have risen significantly.

On the global front, Asian shares steadied in early Wednesday trade after world stocks hit eight-week lows the previous day on worries about global economic growth. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.3 per cent, while Japan's Nikkei gained 0.25 per cent. The Australian benchmark was up 0.11 per cent.

Oil prices edged lower after the IMF lowered its global growth forecasts but prices were supported as Hurricane Michael churned towards Florida, causing the shutdown of nearly 40 per cent of US Gulf of Mexico crude output, Reuters reported.

Back home, the S&P BSE Sensex opened 91 points higher at 34,391 while NSE Nifty 50 index opened at 10,333, up 31.50 points.
Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

Other Latest News
Money laundering case: Delhi courts extends Robert Vadra’s interim bail till March 2
Posted on 16th February 2019
The Enforcement Directorate on Saturday extended interim bail protection to businessman Robert Vadra till March 2. During the course of hearing today, the ED told the court that Vadra was not cooperating the officials in money laundering probe. Vadra’s counsel, however, denied the charge.

The ED counsel also said that Vadra is accompanied by a ‘baraat’ (procession) wherever he goes, whether to ED or to court. This comes days after ED grilled him in connection with a money laundering case and a land scam in Rajasthan’s Bikaner.


Sehwag offers to take care of education of Pulwama terror attack martyrs’ children
Posted on 16th February 2019
Former India cricketer Virender Sehwag on Saturday offered to bear the educational expenses of children of all the CRPF personnel martyred in the dastardly terrorist attack in Jammu and Kashmir’s Pulwama.

On Thursday, at least 40 CRPF paramilitary troopers were killed in a terror attack while several others are battling for their lives following what is being termed as the deadliest terrorist strike in three decades in the valley.


All-party resolution: in solidarity with forces in defending India’s unity
Posted on 16th February 2019
An all-party meeting called to discuss the Pulwama terror attack on a CRPF convoy killing 40 soldiers adopted a unanimous resolution to condemn terrorism and the support it is receiving from across the border.

The meeting, convened by Home Minister Rajnath Singh, was attended by Ghulam Nabi Azad, Anand Sharma and Jyotiraditya Scindia of the Congress, Sudip Bandyopadhyay and Derek O’Brien of the Trinamool Congress, Sanjay Raut of the Shiv Sena, Jithendra Reddy of the Telangana Rashtra Samithi, D. Raja of the Communist Party of India, Farooq Abdullah of the National Conference, and Ram Vilas Paswan of the Lok Janshakti Party, among others.


SC stays death warrant against teacher convicted for raping 4-year-old girl
Posted on 16th February 2019
The Supreme Court on Friday stayed the execution of death penalty against a school teacher, who was convicted for raping a four-year-old girl in Satna district of Madhya Pradesh in June last year. A bench comprising Chief Justice Ranjan Gogoi and justices L Nageswara Rao and Sanjiv Khanna stayed the execution of the death sentence of convict Mahendra Singh Gond, which was scheduled for March 2 in a Jabalpur jail. There shall be stay of execution of the death sentence of the petitioner, the bench said. According to the prosecution, the girl was so brutally assaulted that she had to spend months in the All India Institute of Medical Sciences (AIIMS), Delhi to get her intestines realigned.

Pulwama Attack: Army deploys 9 security columns in Jammu after violent protests
Posted on 16th February 2019
The Army has deployed nine security columns with air support in Jammu following massive protests over the terror attack in Pulwama in the Valley in which 40 CRPF personnel were killed, officials said.

Earlier, curfew was imposed in the city after stray incidents of violence and torching of vehicles.


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