Rupee jumps 50 paise to 72.50 against USD on easing crude prices
Mumbai, Nov 9: The rupee rose by 50 paise to end at 72.50 per US dollar Friday on increased selling of the greenback by exporters amid softening crude oil prices, which slipped below the USD 70 per barrel mark.
The dollar weakened following the US midterm election results, which showed Democrats wresting control of the House of Representatives from the ruling Republican party.
However, it later staged a recovery after the US Fed kept interest rates unchanged but indicated a hike next month.
Forex traders said the rupee's rise was supported by dollar-selling by exporters and banks, and the greenback's weakness against some currencies overseas.
At the Interbank Foreign Exchange (forex) market, the rupee opened on a firm note at 72.68 from Tuesday's close of 73.
It climbed to a high of 72.45, driven by dollar selling by exporters, but ceded some ground to finally end at 72.50, up 50 paise over its last close.
The rupee had rebounded by 12 paise to end at 73 per US dollar Tuesday. In the last two trading sessions, the rupee has gained 62 paise.
The forex market was closed on Wednesday and Thursday on account of 'Diwali' and 'Diwali Balipratipada' respectively.
Globally, Brent crude, the international benchmark, slipped below the USD 70 per barrel mark Friday before a weekend meeting of major oil producing nations in Abu Dhabi.
Meanwhile, foreign institutional investors (FIIs), which had been selling on the Indian bourses, made fresh purchases worth Rs 31.02 crore Wednesday, as per provisional data.
The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 72.7347 and for rupee/euro at 82.5195. The reference rate for rupee/British pound was fixed at 94.8737 and for rupee/100 Japanese yen at 63.84.
Meanwhile, domestic benchmark indices ended on a negative note after a choppy session Friday.
The 30-share Sensex fell 79.13 points, or 0.22 per cent, to close at 35,158.55, while the broader NSE Nifty slipped 13.20 points, or 0.12 per cent, to 10,585.20.
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High Court in Nepal acquits Lamichhane of rape charges, available for T20 WC selection
Kathmandu, May 15: Sandeep Lamichhane, the globally recognised cricketer from Nepal, has been acquitted of rape charges by Patan High Court in Nepal and is now available to play all forms of domestic and international matches, country's cricket board said in a press release on Wednesday. The 23-year-old faced eight years of imprisonment and half a million rupee fine handed over by a district court after being found guilty of rape in 2022.
Cricket Association of Nepal (CAN) president Chatur Bahadur Chand said in a press release that "Honourable High Court of Patan has found Lamichhane innocent and his suspension from domestic and international cricket is lifted."
Leg-spinner Lamichhane has so far played 51 ODIs and 52 T20Is for Nepal with 112 and 98 wickets to his credit.
He has also played in IPL for Delhi Capitals, in Big Bash League for Hobart Hurricanes and for Surrey Jaguars in 'The Hundred'. He last played for Nepal in November in a T20I match against Oman at Kirtipur.
Lamichhane's acquittal means that he will be available to play for Nepal in the upcoming T20 World Cup in the Americas.
