Rupee falls 14 paise against US dollar in opening trade
Mumbai, Oct 8: The rupee dropped by another 14 paise to 73.90 per dollar in early trade Monday as the US currency gained in global markets amid unabated foreign fund outflows.
The dollar strengthened after China's central bank eased its domestic policy to support the economy.
China's central bank said on Sunday that it was cutting the reserve requirement rations (RRRs) by 1 per cent from October 15 which will inject a net USD 109.2 billion in cash into the banking system, amid a deepening trade war with the US that has increased pressure on growth in the world's second largest economy.
Forex dealers said the dollar's strength against major global currencies weighed on the rupee sentiment.
On Friday, the rupee had lost 18 paise to end at record low of 73.76 after collapsing to a life-time low of 74.23 (intra-day) after the RBI unexpectedly kept the policy rate unchanged.
Foreign investors have pulled out over Rs 9,300 crore (USD 1.3 billion) from the Indian capital markets in the last four trading sessions.
Meanwhile, the benchmark BSE Sensex continued to fall, losing another 67.72 points, or 0.20 per cent, to 34,309.27 in early trade Monday.
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Bengaluru: Theives attempt to steal parked bus, end up crashing it
Bengaluru: A major accident was averted on late Saturday night in Anekal, a suburb of Bengaluru, after a group of men allegedly attempted to steal a parked bus, causing damage to the front portion of the vehicle.
According to the police, the bus had been parked along Thali Road in Anekal after the driver left the spot.
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Taking advantage of the situation, four allegedly intoxicated men tried to steal the bus by tampering with its wiring. However, they lost control of the vehicle, which rammed into two electric poles.
Alert residents intervened, stopped the bus, and apprehended one of the accused, who was later handed over to the police. The remaining three suspects managed to flee the scene.
Anekal police have registered a case and launched an investigation.
