Rupee rises 9 paise to 87.79 against US dollar in early trade
Mumbai (PTI): The rupee rose 9 paise to 87.79 against the dollar in early trade on Friday, bolstered by a drop in global crude oil prices and optimism around an India-US trade deal.
However, FII outflows prevented sharper gains, forex traders said.
At the interbank foreign exchange, the rupee opened at 87.78 against the US dollar before dropping marginally to 87.79, down 9 paise from its previous close.
The rupee appreciated 5 paise to close at 87.88 against the US dollar on Thursday.
"The Reserve Bank of India was again present at 87.95 yesterday (Thursday), ensuring that the rupee does not cross 88.00 level and the rupee closed with optimism of a US-India trade deal at its peak. Global sentiment remains mixed as oil prices move higher," Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP, said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.08 per cent higher at 99.01.
Brent crude, the global oil benchmark, was trading lower by 0.55 per cent at USD 65.63 per barrel in futures trade.
"After gaining more than 5 per cent on Thursday due to US sanctions on two Russian oil companies exports (which account for over 5 per cent of the total world oil output), Brent oil prices were stable at USD 65.63 per barrel and set for its biggest weekly gain since June 2025. Prices are higher by 7 per cent on a weekly basis, reflecting one of the most significant weekly rebounds in about 4 months," Bhansali added.
On the domestic equity market front, Sensex declined 153.18 points to 84,403.22 in early trade while the Nifty was down 51.1 points to 25,840.30.
Foreign Institutional Investors sold equities worth Rs 1,165.94 crore on Thursday, according to exchange data.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
