Rupee drops to record low of 79.62 against US dollar
Mumbai(PTI): The rupee depreciated by 3 paise to close at a record low of 79.62 (provisional) against the US currency on Wednesday following a firm dollar in overseas markets and losses in the domestic stock markets.
Crude oil prices trading near USD 100 per barrel level, however, supported the local unit, forex dealers said.
At the interbank forex market, the local unit opened strong at 79.55 against the greenback but could not hold on to gains and slipped in the negative territory. It witnessed an intra-day high of 79.53 and a low of 79.68.
It finally settled at 79.62 (provisional), down paise over its previous close of 79.59.
The dollar index, which measures the greenback's strength against a basket of six currencies, advanced 0.09 per cent to 108.17.
On the domestic equity market front, the BSE Sensex ended 372.46 points or 0.69 per cent lower at 53,514.15, while the broader NSE Nifty fell 91.65 points or 0.57 per cent to 15,966.65.
Meanwhile, Brent crude futures, the global oil benchmark, rose 1.21 per cent to USD 100.69 per barrel.
Foreign institutional investors remained net sellers in the capital market on Tuesday, offloading shares worth Rs 1,565.68 crore, as per exchange data.
Retail inflation dropped marginally to 7.01 per cent in June mainly due to a slight easing in prices of vegetables and pulses, though it remained above the Reserve Bank's comfort level for the sixth month in a row.
The consumer price index (CPI) based inflation stood at 7.04 per cent in the preceding month of May and 6.26 per cent in June 2021.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Man sets fire to gas cylinder on truck in Kerala's Kottayam, held
Kottayam(Kerala) (PTI): A 33-year-old man climbed onto a parked truck carrying cooking gas cylinders and set fire to one of them near Thalayolaparambu in the small hours of Saturday, police said.
The incident occurred around 12.30 am, they said.
The fire and rescue personnel soon arrived at the scene and extinguished the fire, averting a major disaster.
According to police, the man is suspected to be under mental distress as he claimed that he was walking from Ernakulam to his home in Marangattupilly here when he saw the truck on the roadside.
An FIR under sections 329(3)(criminal trespass),324(2)(mischief),326(f)(mischief by injury, inundation, fire or explosive substance) of the Bharatiya Nyaya Sanhita was lodged against him.
Police said that the man was formally arrested, but will be released on station bail as the offences he is accused of are bailable.
"His family is here at the station and he will be released to them," the officer said.
In the FIR, police have said that the man opened the seal of one of the gas cylinders and set fire to it with the knowledge that his act was dangerous to those living in the area.
According to the company transporting the cooking gas cylinders, it suffered a loss of Rs 2,300 in the incident.
