Rupee drops 9 paise to hit lifetime low of 79.90 against US dollar
Mumbai(PTI): The rupee declined by 9 paise to settle at a new record low of 79.90 against the US currency on Thursday due to a firm US dollar in overseas markets and capital outflows.
A decline in crude oil prices in the international markets, however, restricted the rupee losses, forex dealers said.
At the interbank foreign exchange market, the local currency opened strong at 79.72 and witnessed an intra-day high of 79.71 and a low of 79.92 against the US dollar in the day trade.
The local unit finally settled at 79.90 a dollar, down 9 paise over its previous close.
The rupee pared its early gains as the US dollar continued to gain against a basket of leading global currencies in early European trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.37 per cent up at 108.36.
Brent crude futures, the global oil benchmark, dropped 2.20 per cent to USD 97.38 per barrel.
On the domestic equity market front, the BSE Sensex ended 98 points or 0.18 per cent lower at 53,416.15, while the broader NSE Nifty declined 28.00 points or 0.18 per cent to 15,938.65.
Foreign institutional investors were net sellers in the capital market on Thursday, as they offloaded shares worth Rs 2,839.52 crore, as per exchange data.
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Shivamogga: Rowdy sheeter brutally killed in broad daylight
Shivamogga: A 38-year-old rowdy sheeter, Rajesh Shetty, was hacked to death in broad daylight by a group of assailants near Bomanakatte on Saturday here.
The attack occurred around 1 PM near a garage close to Marammanagudi on the old Bommanakatte main road.
Sources suggest that the murder was motivated by an old grudge. Rajesh Shetty, a rowdy sheeter listed at the Vinoba Nagar police station with seven cases against him, reportedly died on the spot due to the severity of the assault.
Additional Superintendent of Police Anil Kumar Bhooma Reddy and officers from the Vinoba Nagar police station visited the crime scene and initiated an investigation.
District Defense Officer GK Mithun Kumar informed the media that three special teams have been formed to track down the culprits. He stated, "We have obtained information about the accused, and preliminary findings indicate that the killing was driven by personal reasons."
