Rupee rebounds from all-time low, up 7 paise to 92.14 against US dollar in early trade
Mumbai (PTI): The rupee rebounded from its all-time low in early trade on Tuesday, rising 7 paise to 92.14 as global oil prices fell after US President Donald Trump said the war with Iran may end soon.
A weaker greenback and a strong opening at the domestic equity markets further supported the local unit while heavy FII outflows capped sharp gains, forex traders said.
At the interbank foreign exchange, the rupee opened at 91.92 but fell to 92.14, up 7 paise from its previous close.
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The rupee crashed to its all-time closing low of 92.21 against the US dollar on Monday, losing 39 paise during the session, as global crude oil prices saw a sharp spike, and the greenback strengthened.
"The rupee fell to its lowest (on Monday). But oil prices have since fallen after G-seven countries decided to utilise their strategic reserves to sell oil and bring prices down," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
"Later, Trump said the war could be over as soon as his goals have been accomplished. Later he also weighed on easing Russia sanctions and other measures to cool off oil prices. The Brent prices cooled off this morning in the Asian trade," he said, adding that the rupee is expected to move within a range of 91.50 to 92.10.
Meanwhile, Brent crude, the global oil benchmark, was trading lower by 4.69 per cent at USD 94.32 per barrel in futures trade as the war between US-Israel and Iran intensified.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.26 per cent lower at 98.92.
On the domestic equity market front, the Sensex rose 809.57 points to 78,375.73 in opening trade while Nifty climbed 252.75 points to 24,280.80.
Foreign institutional investors sold equities worth Rs 6,345.57 crore on a net basis on Monday, according to exchange data.
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BCCI announces Rs 131 crore cash reward for Suryakumar Yadav's World Champion team
New Delhi (PTI): The BCCI on Tuesday announced a cash reward of Rs 131 crore for the entire Indian squad following its third T20 World Cup victory.
The amount covers 15 players, coaching staff, other support staff.
As per sources, the players are certain to get lion's share of the reward money while support staff amount will be decided as per hierarchy.
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The amount is an increment of Rs 6 crore from the Rs 125 crore that Rohit Sharma's team was awarded back in 2024.
"The Board congratulates the players, support staff and selectors once again on this historic achievement and wishes them continued success in the future," BCCI secretary Devajit Saikia said in a statement.
India lifted the prestigious trophy after defeating New Zealand by 96 runs in the final at the Narendra Modi Stadium in Ahmedabad on Sunday, successfully defending the title and becoming the first team in the history of the tournament to retain the ICC Men's T20 World Cup.
With this victory, India also became the first team to win the ICC Men's T20 World Cup three times, further cementing its place among the most successful teams in the history of the format.
