Rupee snaps 4-day losing run, ends marginally up at 74.62 vs USD
Mumbai: The rupee halted its four-session losing streak on Friday, settling with a marginal 2 paise gain at 74.62 to the US dollar, as stronger Asian peers against the greenback lent support to the domestic unit.
Forex traders, however, said that importers and banks' demand for the greenback continued to exert pressure on the Indian currency.
At the interbank forex market, the rupee opened at 74.63 a dollar and witnessed an intra-day high of 74.47 and a low of 74.71.
The local unit finally closed at 74.62 against the American currency, registering a rise of 2 paise over its previous close.
On weekly basis, the rupee lost 54 paise or 0.72 percent.
"The rupee ended flat on Friday, however, for the week the currency depreciated against the US dollar amid persistent dollar purchases from state-run banks, likely on behalf of the central bank," said Sriram Iyer, Senior Research Analyst at Reliance Securities.
Iyer further said that most Asian currencies were stronger against the US dollar and lent support this Friday.
"However, risk appetite waned as a gloomy global economic outlook dampened sentiment due to rising COVID-19 infections in the US and Europe and kept appreciation bias limited," he said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.15 percent to 92.82.
On the domestic equity market front, the BSE Sensex ended 85.81 points or 0.20 percent higher at 43,443, while the broader NSE Nifty rose 29.15 points or 0.23 percent to 12,719.95.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,935.92 crore on a net basis on Friday, according to exchange data.
Brent crude futures, the global oil benchmark, fell 0.60 percent to USD 43.27 per barrel.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
London, Nov 22: A bomb disposal squad deployed as a “precaution” to the South Terminal of Gatwick Airport concluded an investigation into a "security incident" on Friday after making a “suspect package” safe.
The South Terminal of Gatwick Airport, the UK's second busiest airport after Heathrow, which was briefly shut owing to the incident reopened following the incident.
The Gatwick is around 45 km south of London.
Two people detained during the enquiries have since been allowed to continue their journey as the airport was opened.
“Police have concluded their investigation into a report of a suspect package at Gatwick Airport. Officers from the EOD (Explosive Ordnance Disposal) team made the package safe, and the airport has been handed back to its operator,” Sussex Police said in an updated statement.
“Two people detained while enquiries were ongoing have subsequently been allowed to continue their journeys. There will remain an increased police presence in the area to assist with passengers accessing the South Terminal for onward travel,” the statement added.
Earlier on Friday, the incident caused severe disruption at the busy airport’s South Terminal, while the North Terminal of Gatwick Airport remained unaffected.
“Police were called to the South Terminal at Gatwick Airport at 8.20 am on Friday (November 22) following the discovery of a suspected prohibited item in luggage,” a Sussex Police statement said.
“To ensure the safety of the public, staff and other airport users, a security cordon has been put in place whilst the matter is dealt with. As a precaution, an EOD (Explosive Ordnance Disposal) team is being deployed to the airport. This is causing significant disruption and some roads around the South Terminal have been closed. We’d advise the public to avoid the area where possible,” it said.
Footage on social media taken outside the airport showed crowds of frustrated travellers being moved away from the terminal building.
Gatwick said it was working hard to resolve the issue.
“A large part of the South Terminal has been evacuated as a precaution while we continue to investigate a security incident," the airport said in a social media post.
“Passengers will not be able to enter the South Terminal while this is ongoing. The safety and security of our passengers and staff remain our top priority. We are working hard to resolve the issue as quickly as possible.”
Train and bus services that serve the airport were also impacted while the police carried out their inquiries.
In an unrelated incident in south London on Friday morning, the US Embassy area in Nine Elms by the River Thames was the scene of a controlled explosion by Scotland Yard dealing with what they believe may have been a “hoax device”.
“We can confirm the 'loud bang' reported in the area a short time ago was a controlled explosion carried out by officers,” the Metropolitan Police said in a post on X.
“Initial indications are that the item was a hoax device. An investigation will now follow. Some cordons will remain in place for the time being but the majority of the police response will now be stood down,” it added.
