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Rupee rises 20 paise to 75.21 against USD on Covid vaccine trial data
Posted on 19th May 2020
The rupee appreciated 20 paise to 75.71 against the US dollar in early trade on Tuesday as initial success in Covid-19 vaccine trial boosted investor sentiment world over.

Forex traders said besides the encouraging results in Covid-19 vaccine trial, higher opening of domestic equities and weakening American currency supported the local unit, news agency PTI reported.


At the interbank foreign exchange, the rupee opened at 75.71, registering a rise of 20 paise over its previous close.

On Monday, the rupee had settled at 75.91 against the US dollar.

The rupee opened with gains this Tuesday amid improving risk appetite after encouraging data from the trial of a vaccine for Covid-19. Initial data from Moderna Inc's Covid-19 vaccine showed that it produced protective antibodies in a small group of healthy volunteers," Reliance Securities said in a research note.

Moreover, optimism about resumption in economic activity could aid sentiments after shops and restaurants re-opened in Italy, while other centres of the outbreak such Spain and Portugal will gradually lift restrictions, it added.

The Indian government on Sunday extended the coronavirus lockdown for two more weeks with the fourth phase providing more relaxations outside containment zones.

Domestic bourses were trading on a positive note on Tuesday with the benchmark Sensex surging 571.51 points to 30,600.49 and broader Nifty rising 165.60 points to 8,988.85.

Foreign institutional investors were net sellers in the capital market, as they offloaded equity shares worth Rs 2,512.82 crore on Monday, according to provisional exchange data.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent down at 99.64.

Meanwhile, in India, the death toll due to Covid-19 rose to 3,163 and the number of cases climbed to over 1.01 lakh, according to the health ministry.

The number of cases around the world linked to the disease has crossed over 48.05 lakh and the death toll has topped 3.18 lakh.

Meanwhile, Brent crude futures, the global oil benchmark, rose 0.34 per cent to USD 34.93 per barrel.

Other Latest News
Gold prices slump to Rs 48,900 per 10 gm, Silver rallying at Rs 51,950 a kg
Posted on 11th July 2020
Gold prices on Saturday fell to Rs 48,900 from Rs 49,100 per 10 gram, while silver climbed to Rs 51,950 from Rs 51,900 per kilogram, according to Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

Facebook plans to ban political ads before US Presidential election: Report
Posted on 11th July 2020
Facing intense criticism from all quarters, Facebook is planning to ban political ads on its platform like Twitter does as the US inches closer towards the presidential election in November, the media reported on Saturday.

According to a report in CNN Business citing sources, the potential ban on political ads to reduce the spread of disinformation has been under consideration since last fall.

RIL closes four Jio stake sale deals, receives Rs 30,062 cr from investors
Posted on 11th July 2020
After Facebook Inc, Reliance Industries has closed deals to sell a minority stake in its digital arm to four other investors, receiving a total of over Rs 30,062 crore.

In a regulatory filing, Reliance said it has closed the sale of 6.13 per cent stake in Jio Platforms with L Catterton, The Public Investment Fund, Silver Lake and General Atlantic.

Kolkata: Eden Gardens to be used as COVID-19 quarantine facility for police personnel
Posted on 11th July 2020
Kolkata Police can now use the galleries of Eden Gardens stadium as a makeshift quarantine facility, the Cricket Association of Bengal (CAB) on Friday said.

A meeting at Kolkata Police Headquarter, Lal Bazaar, took place at the Chamber of Special Commissioner Jawed Shamim. It was attended by CAB president Avishek Dalmiya.

India sees 27,114 new coronavirus cases, tally crosses 8 lakh-mark
Posted on 11th July 2020
In another highest single-day spike of coronavirus cases, India on Saturday reported 27,114 new cases in the last 24 hours. As many as 519 deaths were reported during this period.

With this, the country's total count has crossed the eight lakh-mark.

The total number of positive cases in the country stands at 8,20,916, including 2,83,407 active cases, 5,15,386 cured/discharged/migrated and 22,123 deaths, according to the Ministry of Health and Family Welfare.

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