Rupee rises 11 paise to 89.05 against US dollar in early trade
Mumbai (PTI): The rupee stayed on the recovery path and gained 11 paise to 89.05 against the US dollar in early trade on Tuesday, supported by lower crude oil prices in the international market.
The Indian currency, however, remained under pressure due to a strong greenback, subdued stock market sentiment and withdrawal of foreign capital, forex analysts said.
At the interbank foreign exchange market, the rupee opened at 89.02 and then traded at 89.05 against the greenback in initial deals, up 11 paise from its previous closing level.
The rupee settled sharply higher by 50 paise at 89.16 against the greenback on Monday, a day after crashing 98 paise to touch its lifetime low of 89.66 against the US dollar on Friday.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was higher by 0.06 per cent at 100.13.
Brent crude, the global oil benchmark, declined 0.33 per cent to USD 63.16 per barrel in futures trade.
On the domestic equity market front, the Sensex declined 46.99 points to 84,853.72 in early trade while Nifty slipped 10.35 points to 25,949.15.
Foreign institutional investors sold equities worth Rs 4,171.75 crore on a net basis on Monday, according to exchange data.
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Man sets fire to gas cylinder on truck in Kerala's Kottayam, held
Kottayam(Kerala) (PTI): A 33-year-old man climbed onto a parked truck carrying cooking gas cylinders and set fire to one of them near Thalayolaparambu in the small hours of Saturday, police said.
The incident occurred around 12.30 am, they said.
The fire and rescue personnel soon arrived at the scene and extinguished the fire, averting a major disaster.
According to police, the man is suspected to be under mental distress as he claimed that he was walking from Ernakulam to his home in Marangattupilly here when he saw the truck on the roadside.
An FIR under sections 329(3)(criminal trespass),324(2)(mischief),326(f)(mischief by injury, inundation, fire or explosive substance) of the Bharatiya Nyaya Sanhita was lodged against him.
Police said that the man was formally arrested, but will be released on station bail as the offences he is accused of are bailable.
"His family is here at the station and he will be released to them," the officer said.
In the FIR, police have said that the man opened the seal of one of the gas cylinders and set fire to it with the knowledge that his act was dangerous to those living in the area.
According to the company transporting the cooking gas cylinders, it suffered a loss of Rs 2,300 in the incident.
