Rupee rises 12 paise to 89.51 against US dollar in early trade
Mumbai (PTI): The rupee appreciated 12 paise to 89.51 against the US dollar in early trade on Wednesday, supported by the RBI's major liquidity announcement and the weakness of the American currency in the overseas market.
Forex traders said the rupee started the day on a stronger note after the RBI announced sufficient liquidity for the markets to the extent of approx. Rs 3 lakh crore, which will also allow the RBI to keep rupee weakness under control.
At the interbank foreign exchange market, the rupee opened at 89.56 against the US dollar, then gained some ground and touched 89.51 against the US dollar, registering a gain of 12 paise over its previous close.
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In the initial trade, it also touched 89.65 against the American currency. On Tuesday, the rupee settled at 89.63 against the US dollar.
"The dollar index was softer after the strong GDP growth of 4.3 per cent and with Asian currencies generally stronger, the rupee has managed to claw back," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
Bhansali further added that, "Rupee is likely to remain broadly in the range of 89-90 while RBI protects both sides as it attempts to cut its short dollar positions.
"The RBI was seen actively managing the rupee to prevent excessive volatility and keep USD/INR from breaking 90 levels while it also bought dollars from the spot market to prevent the appreciation."
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.07 per cent lower at 97.87.
Brent crude, the global oil benchmark, was trading higher by 0.02 per cent at USD 62.39 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex rose 63.82 points to 85,588.66, while the Nifty was up 32.80 points to 26,209. 95.
Foreign Institutional Investors offloaded equities worth Rs 1,794.80 crore on Tuesday, according to exchange data.
The Reserve Bank of India on Tuesday said it will purchase government securities worth Rs 2 lakh crore and conduct a USD 10 billion buy/sell dollar-rupee swap auction to inject liquidity in the banking system.
The latest announcement comes days after the RBI conducted Rs 1 lakh crore OMO purchase auctions of Government of India securities and USD/INR Buy/Sell Swap auction of USD 5 billion for a tenor of three years.
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Three new cubs born to Cheetah Gamini in MP's Kuno Park; India's count rises to 38
Sheopur (MP) (PTI): Cheetah 'Gamini' has given birth to three cubs at the Kuno National Park in Madhya Pradesh, taking the number of these big cats in India to 38, Union Environment Minister Bhupender Yadav said on Wednesday.
Describing it as a "roaring" success of the government's ambitious Cheetah re-introduction programme, Yadav said it is a powerful symbol of the country’s determined and historic conservation effort.
Gamini was translocated to India from South Africa as part of the ambitious project launched in September 2022 to revive the population of the world's fastest land animal in India, which had gone extinct decades ago.
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Yadav, in a post on X, said, “Kuno welcomes three new cubs - A roaring new chapter at Kuno on the occasion of completion of 3 years of arrival of cheetahs from South Africa. Celebrations echo through Kuno National Park as Gamini, the South African cheetah and second-time mother, has brought 3 new cubs into the world."
This joyful arrival marks the ninth successful cheetah litter on Indian soil and takes the number of surviving Indian-born cubs to 27, he said.
With these newest additions, India's total cheetah population has now reached 38 - a powerful symbol of the country's determined and historic conservation effort, Yadav highlighted.
Each birth strengthens the foundation of Project Cheetah and reflects the passion, perseverance, and round-the-clock dedication of the field staff and veterinary teams who have nurtured this dream into reality, he said.
"A moment of pride for Kuno, and for India—may Gamini and her three little sprinters grow strong and carry the nation’s cheetah revival story forward with speed and grace," the minister added.
Chief Minister Mohan Yadav noted that Madhya Pradesh is a powerful centre for cheetah reintroduction.
This is a historic achievement for the entire country in the direction of wildlife conservation, biodiversity, and environmental balance, the CM said in a post on X.
It is a matter of immense joy that under Project Cheetah, the female cheetah ‘Gamini’ who arrived from South Africa has given birth to three cubs, he said.
"With the completion of three years of cheetahs’ arrival at Kuno National Park in Sheopur district, this is the 9th successful birth (of a litter). The total number of cheetahs in India has now increased to 38," Yadav added.
Earlier this month, cheetah Aasha, translocated to India from Namibia, gave birth to five cubs in KNP.
