Rupee rises 6 paise to 90.85 against US dollar in early trade
Mumbai (PTI): The rupee rose 6 paise to 90.85 against the US dollar in early trade on Thursday on the back of a weaker greenback and FII inflows.
A positive start to the session at the domestic equity markets lent further support to the local unit while a rise in global crude oil prices, coupled with geopolitical uncertainties, capped sharp gains, according to forex traders.
At the interbank foreign exchange, the rupee opened at 90.86 against the greenback before inching up to 90.85, higher by 6 paise from its previous close.
The rupee stayed range-bound and settled with a gain of 4 paise at 90.91 against the US dollar on Wednesday.
"As the dollar index fell and Asian currencies gained today (Thursday) the rupee opened higher... A risk-on sentiment in the markets and RBI selling near 91.00 levels ensured yesterday (Wednesday) also that rupee is unable to cross 91.00 levels with FPIs being buyers of equity and sellers of dollars," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent down at 97.57.
Brent crude, the global oil benchmark, rose 0.21 per cent to USD 71.00 per barrel in futures trade.
On the domestic equity market front, the Sensex climbed 303 points to 82,579.16 in early trade, while the Nifty rose 85.1 points to 25,567.60.
On Wednesday, foreign institutional investors purchased equities worth Rs 2,991.64 crore, according to exchange data.
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Pelé's 1966 World Cup jacket draws new fans after Bad Bunny wears it at concerts
Sao Paulo (AP): A jacket worn by football legend Pelé in the 1966 World Cup has become a hit among fans of pop singer Bad Bunny since he borrowed it from a collector's sports merchandise store and used it in his recent concerts in Sao Paulo, in his first performances on Brazilian soil.
Bad Bunny's tribute to the three-time World Cup winner, who died in 2022 at age 82, also included a change in the lyrics of the song MONACO, sung by the Puerto Rican artist as "scoring a goal after Pelé and Maradona" instead of "Messi and Maradona."
Cássio Brandão, the owner of the Alambrado Futebol e Cultura store, seeks historical soccer memorabilia and jerseys and has more than 7,000 of them. He owns 115 items that belonged to Pelé and was involved in Bad Bunny's choice for the jacket.
"He took very good care of the piece. It came back only with sweat, wet with sweat, but it was perfect, in the same condition. They were very careful. It returned in the same suitcase," Brandão said.
Pelé's official Instagram later thanked the singer for the tribute, adding that when someone like Bad Bunny honors “the King on Brazilian soil, it means the crown is still shining.”
“I think that today, when I see Bad Bunny doing this, it warms my heart to imagine that many kids across Brazil and around the world are going on YouTube trying to learn more about Pelé, watching his goals and better understanding the magnitude and greatness of this figure, who is the greatest football player in history and, to me, the greatest Brazilian who has ever lived,” Brandão said. AP
