Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
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Two held in UP's Bijnor for contact with Pakistan linked Dubai handler
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Bijnor (PTI): Two men were arrested in this Uttar Pradesh district on Friday for allegedly being in touch with a Pakistan-linked handler based in Dubai, police said.
Circle Officer, Najibabad, Anjani Kumar Chaturvedi said Uvaid Malik and Jalal Haider were arrested following inputs on their alleged links with Aqib, a resident of Meerut currently staying in Dubai.
According to police, Aqib had earlier come into the spotlight after a video surfaced on Instagram purportedly showing him displaying an AK-47 rifle and explosives.
During interrogation, the arrested men allegedly told police that Aqib used to incite youngsters against Hindus and encourage anti-national activities, the officer said, adding that detailed questioning of the accused is underway.
On April 6, Superintendent of Police (SP) Abhishek Jha said the video first surfaced in November last year. Aqib, a native of Sathla village in the Mawana area of Meerut, was allegedly seen in the video brandishing weapons.
Following the viral clip, a case was registered at the Nangal police station by sub-inspector Vinod Kumar. However, the then station house officer and investigating officer Satyendra Singh had recorded Aqib's statement and filed a final report, stating that the weapons seen in the video were toys, effectively giving him a clean chit.
Police said fresh developments have now revealed Aqib's suspicious links and the probe has been handed over to the Anti-Terrorist Squad (ATS).
The SP said action has been taken against the officials concerned, with the then SHO and investigating officer suspended and Circle Officer Nitesh Pratap Singh removed from his post.
