Rupee rises 9 paise to close at 87.93 against US dollar
Mumbai (PTI): The rupee rose 9 paise to close at 87.93 against the US dollar on Monday, supported by foreign fund inflows and lower crude oil prices.
Positive sentiments in the domestic equity markets lent further support to the local unit, according to forex traders.
At the interbank foreign exchange, the rupee opened at 87.94 against the US dollar and traded in the range of 87.74-87.94 during the day before settling at 87.93, higher by 9 paise against its previous close.
On Friday, the rupee closed at 88.02 against the US dollar.
"The Reserve Bank of India ensured that the rupee opened below 88... There was no specific development on the India-US trade front, while on the US-China front, the talks by government officials gave hope that US-China trade developments could be solved amicably," Anil Kumar Bhansali, Executive Director, Finrex, said.
Stock exchanges will hold a special Muhurat trading session on Tuesday from 1.45 pm to 2.45 pm for Laxmi Pujan, according to notices by the BSE and the NSE.
The forex markets, however, will be closed on Tuesday and Wednesday.
"After two days' holidays from Tuesday, the rupee is expected to be in the range of 87.70-88.30 on Thursday," Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, edged up 0.1 per cent to 98.53.
Brent crude, the global oil benchmark, fell 0.36 per cent to USD 61.07 per barrel in futures trade.
On the domestic equity market front, Sensex soared 411.18 points to settle at 84,363.37, while Nifty climbed 133.30 points to 25,843.15.
Foreign Institutional Investors (FIIs) purchased equities worth Rs 790.45 crore on Monday, according to exchange data.
India's forex reserves dropped by USD 2.176 billion to USD 697.784 billion during the week ended October 10, the RBI data released on Friday showed.
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18-year-old graphic designer arrested for theft; says he lost job due to AI
Indore (PTI): An 18-year-old graphic designer, who claimed to have lost his job due to AI, was arrested with his NEET-aspirant woman friend on Thursday for allegedly stealing jewelry worth Rs 16 lakh.
The teen duo told police that they were inspired by the 2005 film Bunti Aur Babli, said Deputy Commissioner of Police (DCP) Shrikrishna Lalchandani.
They allegedly stole gold, silver, and diamond jewelry worth Rs 16.17 lakh from a shop in Rau police station area in the city on the night of December 22, the official told reporters.
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The entire booty was recovered from their possession after the arrest in Bhopal where they had fled.
Without disclosing the identities of the accused, DCP Lalchandani said, "Both are 18 years old. The young man is a graphic designer, while the woman is preparing for National Eligibility-cum-Entrance Test (NEET). The two have known each other since childhood.
"During interrogation, the young man told us that he used to work part-time as a graphic designer at an IT company, but lost his job due to the company's adoption of artificial intelligence (AI) technology and he was finding it difficult to make ends meet," the official added.
The accused, who come from economically weak background, claimed to have planned the theft after watching "Bunty Aur Babli," he said.
"The accused say they tried to sell the stolen jewelry, but the buyers, thinking they were children, wouldn't pay the right price. So they had decided to sell it after Christmas holidays," the DCP said.
