Rupee rises 7 paise to 90.40 against the US dollar in early trade
Mumbai (PTI): The rupee traded in a narrow range and gained 7 paise to 90.40 against the US dollar in early trade on Thursday, amid corporate dollar demand and as investors are awaiting for confirmation on the India-US trade deal.
Forex traders said market participants are now shifting focus from celebration to verification as no official documents have been released, and neither side has formally published the final terms.
Moreover, investors are awaiting cues from Friday's RBI interest rate announcement.
At the interbank foreign exchange market, the rupee opened at 90.52 against the US dollar, then gained some ground to 90.40, registering a gain of 7 paise over its previous close.
On Wednesday, the rupee depreciated 15 paise to 90.47 against the US dollar.
In the initial trade, it also touched 90.53 against the American currency.
"Market is now waiting for confirmation and finer details before extending the rupee's rally further," CR Forex Advisors MD Amit Pabari said.
Pabari further said that attention has now turned to the RBI’s Monetary Policy Committee meeting.
"Markets widely expect the central bank to keep interest rates unchanged tomorrow, with a growing consensus that rate cuts are unlikely at least until the end of 2026," he said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.18 per cent higher at 97.79.
Brent crude, the global oil benchmark, was trading 2 per cent lower at USD 68.07 per barrel in futures trade.
"Technically, the 89.80–90.00 zone has emerged as a strong support base. With this area holding firmly, the pair now appears poised to move back toward the 90.80–91.20 range with greater conviction," Pabari said, adding that "going forward, RBI actions will also remain a key factor to watch along with confirmation of the final trade agreement and its exact terms."
On the domestic equity market front, Sensex declined 278.72 points to 83,538.97 in early trade, while the Nifty was down 94.15 points to 25,681.85.
Foreign Institutional Investors purchased equities worth Rs 29.79 crore on Wednesday, according to exchange data.
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UP: Girl dies after swallowing bracelet bead at school
Budaun (PTI): A six-year-old girl died after allegedly swallowing a bead of her bracelet at a private school in Uttar Pradesh's Budaun on Monday, police said.
The incident occurred at New Hopes Public School in Kakrala town, where Class I student Taapsi, reportedly swallowed a bead of a bracelet she was wearing in the classroom at around 11.30 am, officials said.
According to the school administration, the child experienced breathing difficulty following the incident. Her family members were informed and she was taken to a local community health centre.
She was later taken to the district headquarters and admitted to the district hospital, where doctors declared her dead.
The girl’s father Tekchandra demanded action against the school administration, claiming the family was informed after his daughter died.
School principal Bhooraj Singh said the student had arrived at school in normal condition. A classmate informed the teacher that the child had chewed and swallowed a bead of her bracelet, following which the school immediately alerted the family and arranged for medical assistance.
He added that CCTV footage from the classroom has been handed over to police and the school is cooperating with the investigation.
Alapur Station House Officer Madhav Singh Bisht said the school informed police about the incident. After receiving an information from the district hospital, police began inquest proceedings and preparations for a post-mortem examination.
He added that senior officials have been informed and a panel will conduct the autopsy.
According to the police, the CCTV footage has been collected from the school.
No formal complaint has been received from the family so far, and further legal action will be taken after due inquiry, the SHO said.
