Rupee rises 15 paise against US dollar
Mumbai, (PTI): The rupee appreciated 15 paise to settle at 83.13 against the US dollar on Thursday, tracking softening crude prices in the international markets amid lingering geopolitical uncertainties.
However, foreign fund outflows and a weak greenback against major rivals overseas weighed on investor sentiments and capped the gains, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.26 against the US currency and witnessed a high of 83.13 and a low of 83.28 during intra-day trade.
The local unit settled at 83.13, registering a gain of 15 paise over its previous close.
"...With Crude price showing profit booking from USD 88.50 gave support to the rupee. Broadly in the short term rupee remains in the range between 83.15-83.30. The RBI intervention seems intact as the rupee has been very stable for a few weeks in this range. Today's FED chairperson Powell's speech shall give further direction to the dollar, in case the dollar drops below USD 105.50, the rupee will see positive reaction," Jateen Trivedi, VP Research Analyst at LKP Securities, said.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.05 per cent to 106.61.
Global oil benchmark Brent crude futures fell 1.92 per cent to USD 89.74 per barrel.
"We expect the rupee to trade with a slight negative bias as risk aversion in the global markets amid rising geopolitical uncertainty in the Middle East may put pressure on the rupee," Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas, said.
However, any diplomatic efforts to contain the conflict in the Middle East may support the rupee at lower levels. Traders may take cues from weekly unemployment claims and existing home sales data from the US.
FII selling also weighed on the domestic currency, he added.
"Investors may remain cautious ahead of US Federal Reserve Chair, Jerome Powell's speech for some cues over monetary policy trajectory. USD/INR spot price is expected to trade in a range of Rs 83 to Rs 83.60," he said.
On the domestic equity market front, Sensex fell 247.78 points or 0.38 per cent to settle at 65,629.24 points. The Nifty declined 46.40 points or 0.24 per cent to 19,624.70 points.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday as they sold shares worth Rs 1,093.47 crore, according to exchange data.
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Real Madrid fines Valverde and Tchouaméni half a million euros each for altercation
Barcelona (AP): Real Madrid slapped players Federico Valverde and Aurélien Tchouaméni with half-a-million-euro ($588,000) fines on Friday for their altercation during practice.
The massive fines came a day after the midfielders tussled when the team trained. Valverde said in a post on social media on Thursday that no punches were thrown. But Valverde knocked his head on a table and he suffered a small cut that required a brief hospital visit.
On social media, Valverde initially called it a “meaningless fight” with a teammate and said “everything has been blown out of proportion."
His employers, however, considered it a significant enough breach of team discipline to nail both Valverde and Tchouaméni with fines that bite even the bank account of a top soccer player. The half-a-million euro penalties reflect the reputational damage the club was enduring in a chaotic end to a disappointing season.
In a statement, the 15-time European champion said its disciplinary action was concluded after both players expressed to the club “their complete remorse for what happened and apologized to one another.”
Madrid added they also apologized to their teammates, the coaching staff and club supporters, as well as showing their willingness to accept whatever disciplinary action the club deemed “opportune.”
Tchouaméni was back training with Madrid on Friday, two days before they play at Barcelona in a clasico. Madrid has to win otherwise Barcelona will be crowned La Liga champion.
After being notified of the fine, he posted a public apology to the club and its fans on social media.
“What happened this week in training is unacceptable,” Tchouaméni wrote. "I say this while thinking about the example we are expected to set for young people, whether in football or at school.
“Above all, I am sorry for the image we projected of the club.”
Valverde was not at practice due to the head knock.
Both players are set to play in the World Cup next month, with Tchouaméni playing for France and Valverde for Uruguay.
Chaotic end to a poor season
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The run-in between the players, who for seasons have played side by side in Madrid's midfield, came after they argued this week in previous training sessions. But tempers boiled over on Thursday. Spanish media was rife with reports that the players previously disagreed over the club's decision to let coach Xabi Alonso go after just months on the job.
It was not the only altercation involving Madrid players during training this week. Álvaro Carreras confirmed he was in a “minor” incident with a teammate. Spanish media said he and fellow defender Antonio Rüdiger got into a scuffle.
Álvaro Arbeloa, the coach who was promoted from Madrid's reserve team when Alonso was fired in January, will face tough questions on what went wrong inside the changing room when he gives a press conference on Saturday ahead of the clasico at Camp Nou.
Madrid is facing a second consecutive campaign without a major trophy amid rumors in the Spanish media that club president Florentino Pérez is considering bringing back Jose Mourinho to straighten out his underperforming team.
