Rupee gains 5 paise to 88.63 against US dollar in early trade
Mumbai (PTI): The rupee pared initial losses and showed a slight recovery of 5 paise trading at 88.63 against the US dollar in early trade on Friday on the back of lower crude oil prices overseas and foreign capital infusion in domestic stocks.
The local currency, however, remained under pressure tracking a firm greenback and negative cues from domestic equity markets, forex traders said.
At the interbank foreign exchange market, the rupee opened at 88.67 and gained some ground to trade at 88.63 against the US dollar in initial deals, up 5 paise from its previous closing level.
On Thursday, the rupee depreciated 20 paise to close at 88.68 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.01 per cent up at 100.09.
Brent crude, the global oil benchmark, was trading 1.29 per cent lower at USD 62.56 per barrel in futures trade.
On the domestic equity market front, the Sensex declined 172.32 points to 85,460.36 in early trade, while the Nifty was down 59.35 points to 26,132.80.
Foreign institutional investors bought equities worth Rs 283.65 crore on a net basis on Thursday, according to exchange data.
The government data released on Thursday showed the pace of growth in the country's eight key infrastructure sectors stayed flat year-on-year in October as expansion in output of petroleum refinery products, fertiliser and steel was offset by a contraction in coal and electricity production.
The eight core industries of coal, crude oil, natural gas, petroleum refinery products, electricity, fertiliser, and steel had expanded by 3.3 per cent in September and by 3.8 per cent in October 2024.
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2 days' WFH for govt offices, Metro use by ministers: Delhi CM's call for fuel conservation
New Delhi (PTI): Delhi Chief Minister Rekha Gupta on Thursday announced a slew of measures including two days of 'work from home' (WFH) for government offices, use of Metro trains on Mondays by ministers and officers, and a voluntary 'no-vehicle day' every week.
Gupta said in a press conference attended by her Cabinet colleagues that the government has drawn an extensive plan under "Mera Bharat, Mera Yogdan" to implement the appeal of Prime Minister Narendra Modi for saving fuel and wise expenditure.
She said all Delhi government offices will follow WFH two days a week. The private sector will also be requested to follow it, she said.
Gupta said all ministers, officers and she herself will use Metro for commuting on Mondays while people will be requested to observe 'no-vehicle day' every week.
The government has also decided to cancel all official foreign visits by ministers for one year while no big events will be hosted by it for the next three months, she said.
The chief minister said petrol and diesel quotas of the Delhi government officers have also been slashed by 20 per cent.
Earlier, Gupta headed a meeting with all her Cabinet ministers and senior officers of the government to discuss ways to save fuel and other resources amid global uncertainty over crude oil and gas supplies.
The chief minister has also cut down on her carcade by 60 per cent, following Prime Minister Narendra Modi's appeal to people to spend wisely and save fuel in view of the war in West Asia.
The chief minister's convoy now has only four vehicles, including two EVs.
