Rupee gains 12 paise against US dollar
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Mumbai (PTI): The rupee appreciated 12 paise to close at 88.48 against the US dollar on Wednesday, supported by a positive trend in domestic equity markets and lower international crude prices.
However, a strengthening greenback against major currencies overseas capped the sharp gain in the domestic unit, according to forex traders.
At the interbank foreign exchange market, the rupee opened at 88.57 and hit an intra-day high of 88.41 against the US dollar. The local currency finally settled at 88.48, registering a 12-paise rise from its previous closing level.
On Tuesday, the rupee settled 1 paisa lower at 88.60 against the US dollar.
"We expect the rupee to trade with a slight positive bias on a rise in risk appetite in global markets and trade deal optimism.
"However, a strong dollar and fading rate cut expectations may cap the upside. Dollar demand from importers and FII outflows may pressurise the rupee at higher levels. USD-INR spot price is expected to trade in a range of Rs 88.25 to Rs 88.70," said Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.18 per cent higher at 99.63.
Brent crude, the global oil benchmark, declined 0.46 per cent to USD 64.58 per barrel in futures trade.
On the domestic equity market front, Sensex soared 513.45 points or 0.61 per cent to settle at 85,186.47, while Nifty jumped 142.60 points or 0.55 per cent to 26,052.65.
Foreign institutional investors bought equities worth Rs 1,580.72 crore on Wednesday, according to exchange data.
Commerce and Industry Minister Piyush Goyal on Tuesday said "you will hear good news" on the proposed trade pact between India and the US once the deal is fair, equitable and balanced.
The remarks came days after President Donald Trump stated that the US is "pretty close" to reaching a "fair trade deal" with India, and added that he will lower tariffs imposed on Indian goods at "some point".
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Bondi Beach shooting: EAM Jaishankar speaks to Australia's Wong
New Delhi (PTI): External Affairs Minister S Jaishankar on Monday conveyed to his Australian counterpart Penny Wong India's "fullest support" to Australia in the wake of a deadly shooting incident at the iconic Bondi Beach targeting a Jewish celebration that left 15 people dead.
In a phone conversation with Wong, Jaishankar also condoled the death of innocent people in the attack.
"Just spoke to Australian Foreign Minister @SenatorWong.Conveyed our deepest condolences about the Bondi Beach terrorist attack and offered our fullest support," he said on social media.
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Fifteen people were killed and over 40 others injured in the attack by two gunmen on Sunday, according to Australian authorities.
Hours after the incident, Jaishankar condemned the terror attack.
Condemn in the strongest terms the terror attack on Hanukkah celebrations in Bondi Beach, he said on Sunday.
"Our thoughts are with the victims and their families," he said.
Australian Prime Minister Anthony Albanese described the attack as a "dark moment" for the country.
"This is a targeted attack on Jewish Australians on the first day of Hanukkah, which should be a day of joy, a celebration of faith," he told reporters.
"At this dark moment for our nation, our police and security agencies are working to determine anyone associated with this outrage," he said.
The shooting at Bondi followed a wave of antisemitic attacks in the country.
The attackers were identified as father and son duo of Sajid Akram and Naveed Akram. The father was shot dead by police while the son sustained injuries and he is undergoing treatment at a hospital.
Prime Minister Narendra Modi was among the world leaders who condemned the attack.
"Strongly condemn the ghastly terrorist attack carried out today at Bondi Beach, Australia, targeting people celebrating the first day of the Jewish festival of Hanukkah," Modi said on X on Sunday.
"On behalf of the people of India, I extend my sincere condolences to the families who lost their loved ones. We stand in solidarity with the people of Australia in this hour of grief," he said.
The prime minister said India has zero tolerance towards terrorism and supports the fight against all forms of terrorism.
