Rupee rises 28 paise to 92.86 against US dollar in early trade
Mumbai (PTI): The rupee jumped 28 paise to 92.86 against the US dollar in early trade on Friday amid hopes of easing geopolitical tensions and positive sentiment in domestic equity markets.
Buying of Indian equities by foreign investors also supported the local currency even though it stayed under pressure due to a firm dollar, forex traders said.
At the interbank foreign exchange market, the rupee opened at 92.93 and gained further to trade at 92.86 against the greenback in early deals, up 28 paise from the previous closing level.
On Thursday, the rupee strengthened 19 paise to settle at 93.14 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.05 per cent at 98.07.
Brent crude, the global oil benchmark, was trading 1.16 per cent down at USD 98.24 per barrel in futures trade.
Analysts said that crude oil prices fell below USD 100/barrel amid expectations that the crisis in West Asia would soon come to an end.
In a latest development on the geopolitical front, China, a close ally of Iran and the largest importer of Iranian oil, has asked Tehran to ensure freedom and safe passage through the Strait of Hormuz, a key international trade route.
Besides, Israel and Lebanon have agreed to a 10-day ceasefire, which could also boost the peace efforts towards ending the devastating war involving the US, Israel and Iran.
On the domestic equity market front, the 30-share Sensex gained 176.08 points or 0.23 per cent to 78,164.76 in early trade, while the Nifty rose 33.90 points or 0.14 per cent to 24,232.60.
Foreign Institutional Investors turned net buyers on Thursday, as they bought equities worth Rs 382.36 crore, according to exchange data.
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3 killed in motorcycle-SUV collision in Jharkhand's Palamu
Medininagar (PTI): Three persons, including two boys, were killed after their motorcycle collided with an SUV in Jharkhand's Palamu district, police said on Friday.
The accident happened near Barwadih in the Patan police station area on Thursday night, they said.
"Two persons died on the spot, while the third person succumbed to the injuries while undergoing treatment at Medinirai Medical College and Hospital," a police official said.
"We have seized the motorcycle and the SUV. The driver and other occupants of the SUV fled following the accident, leaving their vehicle behind," he added.
