Rupee falls 5 paise to 89.95 against US dollar in early trade
Mumbai (PTI): The rupee fell 5 paise to 89.95 against the US dollar in early trade on Monday amid foreign fund outflows and a muted opening in the domestic equity markets.
Forex traders said foreign portfolio investors continue to offload Indian equities, which has been weighing on the Indian rupee in the last few months. At the interbank foreign exchange, the local unit opened at 89.95 against the dollar, down 5 paise from its previous close.
On Friday, the rupee depreciated 19 paise to close at 89.90 against the US dollar.
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"FPIs flow into Indian equities, a sustained return of foreign buying would be supportive for the rupee in the coming year, which has been the worst-performing currency in the emerging market and Asian markets," said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent lower at 98.00.
Brent crude, the global oil benchmark, was trading 0.92 per cent higher at USD 61.20 per barrel in futures trade.
Meanwhile, External Affairs Ministry spokesperson Randhir Jaiswal has said that India and the US remain engaged in concluding a fair, balanced and mutually beneficial bilateral trade agreement.
"This ongoing engagement helps anchor market confidence at a time of global uncertainty," CR Forex Advisors MD Amit Pabari said.
Pabari further said, "The RBI’s presence continues to act as a strong backstop. With spot interventions, liquidity tools and forward market management, the central bank has shown clear intent to prevent disorderly moves in the currency."
On the domestic equity market front, the 30-share benchmark index Sensex rose 22.24 points to 85,063.69 in initial trade, while the Nifty was up 18.10 points to 26,060.40.
Foreign institutional investors offloaded equities worth Rs 317.56 crore on Friday, according to exchange data.
Meanwhile, India's forex reserves jumped by USD 4.368 billion to USD 693.318 billion during the week ended December 19, the Reserve Bank said on Friday.
The overall kitty had increased by USD 1.689 billion to USD 688.949 billion in the previous week.
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BJP MLA Sharanu Salagar booked in cheating case
Bidar (PTI): A case has been registered against BJP MLA Sharanu Salagar in connection with a complaint over a Rs 99 lakh cheque that was dishonoured, for allegedly failing to return money he had taken as a loan during the 2023 Assembly elections, police said on Monday.
The MLA, who is said to be a distant relative of the complainant, had sought financial assistance to meet election-related expenses and received the amount in multiple instalments between January and February 2023, assuring repayment within six months, they said.
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However, the complainant waited for two years, but even after repeated reminders when the MLA did not show any signs of returning the borrowed amount, a meeting was convened by elders on September 14, 2025, where in the MLA acknowledged the liability and issued a cheque for Rs 99 lakh, the FIR stated.
The FIR further alleged that when the complainant’s family members visited the MLA’s residence on September 16 to confirm whether the cheque could be deposited, the MLA allegedly behaved aggressively and issued threats.
The complainant has claimed that the alleged threats were recorded and submitted as electronic evidence along with the complaint.
However, when the cheque was presented through the complainant’s bank on September 18, it was returned the next day, saying “account closed”, police said.
Following the cheque dishonour, a legal notice was issued to the MLA on September 22, seeking payment within the stipulated period, but there was no response, police said.
Based on the complaint, a case was registered against the MLA at Basava Kalyana police station on December 27 under Sections 109 (attempt to murder), 314 (dishonest misappropriation of property), 318 (cheating), 352 (intentional insult with intent to provoke breach of peace), 351 (criminal intimidation) and 74 (assault or criminal force to woman with intent to outrage her modesty) of the Bharatiya Nyaya Sanhita, police said, adding that the matter is under investigation.
