Rupee hits new low, falls 24 paise against US dollar
Mumbai, Oct 11: The rupee Thursday weakened by 24 paise to hit another low of 74.45 against the US dollar on strong demand for the American currency from importers amid unabated foreign fund outflows and a sharp losses in the domestic equity market.
At the Interbank Foreign Exchange (forex) market, the domestic currency opened weak at 74.37 and slipped further to quote at an all-time low of 74.45, depreciating 24 paise against the US dollar in the early trade.
Forex dealers said besides strong demand for the American currency from importers, concerns of fears of rising fiscal deficit and capital outflows weighed on the domestic currency.
On Wednesday, the rupee snapped its six-session losing streak to end 18 paise higher at 74.21 against the US dollar after the American currency weakened overseas.
Foreign institutional investors (FIIs) sold shares net worth a net of Rs 1,096 crore Wednesday, provisional data showed.
Investors remained concerned over sustained foreign capital outflows. Meanwhile, the BSE benchmark Sensex crashed 1,030.40 points, or 2.95 per cent, to hit 33,730.49 in opening trade.
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Jharkhand: 6 arrested for kidnapping Bengal businessman, associate
Khunti (PTI): Six persons have been arrested for allegedly abducting a West Bengal-based businessman and his associate in Jharkhand's Khunti district and demanding a ransom of Rs 10 lakh, police said on Sunday.
The incident occurred on Friday in Tilmi area under the jurisdiction of Jariyagarh police station. Upon receiving information, police rescued both victims, they said.
Torpa Sub-divisional Police Officer Christopher Kerketta said, "We have rescued both the victims and arrested six people for their alleged involvement in the crime."
The businessman, identified as Haru Mukherjee (65), had come to the house of his associate, Vijay Oraon (40), to recruit labourers for work at a brick kiln.
The accused hail from different parts of Khunti, and police also seized a four-wheeler, three motorcycles, and five mobile phones from their possession, the officer said, adding an FIR has also been registered and further investigation is underway.
