Flight services between Kolkata, Dubai resume partially
Kolkata (PTI): Flight services between Kolkata and Dubai resumed partially on Thursday, after a four-day suspension due to the ongoing conflict in the Middle East, officials said.
A flydubai aircraft from Dubai landed at the Netaji Subhas Chandra Bose International Airport here at 2:40 am with 130 passengers on board, marking the first arrival from the Middle East after services were halted for over 113 hours, they said.
The Boeing 737 Max aircraft was scheduled to arrive at 12:25 am, Kolkata airport officials said.
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The same aircraft departed for Dubai at 3:59 am with 55 passengers, they said.
The last flight to depart for the Middle East from Kolkata before the suspension was an Emirates aircraft to Dubai on February 28, the officials said.
International services between Kolkata and cities such as Dubai, Doha and Abu Dhabi were disrupted, after airlines temporarily suspended operations amid escalating tensions and airspace restrictions in parts of the Middle East, due to the conflict involving the US, Israel and Iran.
There is no clear indication about when all the Middle East routes will fully reopen, they said.
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Rupee settles 1 paisa higher to close at 94.15 against US dollar
Mumbai (PTI): The rupee settled with gains of just one paisa to close at 94.15 against the US dollar on Monday, as rising global uncertainty, escalating tensions in West Asia and soaring crude oil prices weighed on investor sentiments.
Forex traders said the INR/USD pair pared its initial losses, but the overall bias remains negative as FII sell-off and elevated crude oil prices restricted the gains for the local unit.
At the interbank foreign exchange market, the rupee opened at 94.25 against the US dollar, and touched an intraday high of 94.11 and a low of 94.28 against the greenback during the day.
At the end of Monday's trading session, the rupee was quoted at 94.15, registering a gain of just 1 paisa over its previous close.
On Friday, the rupee extended its losing streak for the fifth day in a row, depreciating 15 paise to close at 94.16 against the US dollar.
"The rupee snapped a five-session losing streak, rebounding in tandem with a rally across regional currencies. However, the mood remains apprehensive as the market braces for a potential RBI intervention around 94.30 and higher crude oil prices," said Dilip Parmar – Senior Research Analyst, HDFC Securities.
On the charts, the USDINR pair has reclaimed its upward momentum, carving out a classic bullish structure of higher highs and lows on the daily time frame, he said, adding that for the coming sessions, 93.80 serves as a support, with 94.40 acting as the primary hurdle.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.21 per cent at 98.32.
Brent crude, the global oil benchmark, was trading higher by 2.36 per cent at USD 107.82 per barrel in futures trade.
On the domestic equity market front, Sensex jumped 639.42 points to settle at 77,303.63, while the Nifty surged 194.75 points to 24,092.70.
Foreign Institutional Investors offloaded equities worth Rs 1,151.48 crore on Monday, according to exchange data.
Meanwhile, India's forex reserves jumped by USD 2.362 billion to USD 703.308 billion during the week ended April 17, the Reserve Bank of India (RBI) said on Friday.
In the previous reporting week, the forex kitty had increased by USD 3.825 billion to USD 700.946 billion.
