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.
Pakistan reports two more polio cases; Total tally now 52
ISLAMABAD: At least two more cases of poliovirus were reported in Pakistan, taking the number of infections to 52 so far this year, a report said on Friday.
“The Regional Reference Laboratory for Polio Eradication at the National Institute of Health has confirmed the detection of two more wild poliovirus type 1 (WPV1) cases in Pakistan," an official statement said.
The fresh infections — a boy and a girl — were reported from the Dera Ismail Khan district of Khyber-Pakhtunkhwa province.
“Genetic sequencing of the samples collected from the children is underway," the statement read. Dera Ismail Khan, one of the seven polio-endemic districts of southern Khyber Pakhtunkhwa province, has reported five polio cases so far this year.
Of the 52 cases in the country this year, 24 are from Balochistan, 13 from Sindh, 13 from Khyber Pakhtunkhwa, and one each from Punjab and Islamabad.
There is no cure for polio. Only multiple doses of the oral polio vaccine and completion of the routine vaccination schedule for all children under the age of five can keep them protected.
