Rupee jumps 29 paise against US dollar to 73.32
New Delhi, Oct 19: The rupee recovered early losses and finally settled 29 paise higher at 73.32 against the US dollar Friday, amid a weakening greenback.
Traders said the selling of the US currency by exporters and foreign fund inflows were the other factors that provided support to the home unit.
At the Interbank Foreign Exchange (Forex), the rupee opened lower at 73.62, but soon recovered the lost ground and jumped 31 paise to touch a high of 73.31 on increased selling of the American currency by exporters and banks.
The domestic unit settled the day up by 29 paise at 73.32 against the US dollar.
The rupee had settled 13 paise lower at 73.61 against the US dollar Wednesday. Forex market remained shut on Thursday on account of "Dussehra".
Meanwhile, market benchmark BSE Sensex plunged by 464 points or 1.33 per cent to close at 34,315.63 points due to losses in index major Reliance Industries, HDFC and Infosys.
"Despite the fall (in equity benchmark), rupee gained some weight supported by stability in oil prices," Vinod Nair, Head of Research, Geojit Financial Services Ltd.
Foreign fund inflows also supported the domestic currency. On a net basis, foreign funds bought shares worth Rs 140.02 crore, while domestic institutional investors sold shares to the tune of Rs 343.11 crore Wednesday, provisional data showed.
The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 73.4354 and for rupee/euro at 84.1741. The reference rate for rupee/British pound was fixed at 95.6525 and for rupee/100 Japanese yen was 65.27.
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Another North Goa nightclub sealed; Kejriwal says corruption led to fire tragedy
Panaji (PTI): As part of a crackdown against tourist establishments violating laws and safety norms in the aftermath of the Arpora fire tragedy, Goa authorities on Saturday sealed a renowned club at Vagator and revoked the fire department NOC of another club.
Cafe CO2 Goa, located on a cliff overlooking the Arabian Sea at Vagator beach in North Goa, was sealed. The move came two days after Goya Club, also in Vagator, was shut down for alleged violations of rules.
Elsewhere, campaigning for local body polls, AAP leader Arvind Kejriwal said the fire incident at Birch by Romeo Lane nightclub at Arpora, which claimed 25 lives on December 6, happened because the BJP government in the state was corrupt.
An inspection of Cafe CO2 Goa by a state government-appointed team revealed that the establishment, with a seating capacity of 250, did not possess a no-objection certificate (NOC) of the Fire and Emergency Services Department. The club, which sits atop Ozrant Cliff, also did not have structural stability, the team found.
The Fire and Emergency Services on Saturday also revoked the NOC issued to Diaz Pool Club and Bar at Anjuna as the fire extinguishers installed in the establishment were found to be inadequate, said divisional fire officer Shripad Gawas.
A notice was issued to Nitin Wadhwa, the partner of the club, he said in the order.
Campaigning at Chimbel village near Panaji in support of his party's Zilla Panchayat election candidate, Aam Aadmi Party leader Kejriwal said the nightclub fire at Arpora happened because of the "corruption of the Pramod Sawant-led state government."
"Why this fire incident happened? I read in the newspapers that the nightclub had no occupancy certificate, no building licence, no excise licence, no construction licence or trade licence. The entire club was illegal but still it was going on," he said.
"How could it go on? Couldn't Pramod Sawant or anyone else see it? I was told that hafta (bribe) was being paid," the former Delhi chief minister said.
A person can not work without bribing officials in the coastal state, Kejriwal said, alleging that officers, MLAs and even ministers are accepting bribes.
