Rupee rises 26 paise to 89.92 against US dollar in early trade
Mumbai (PTI): The rupee rose 26 paise to 89.92 against US dollar in early trade on Wednesday aided by a weaker greenback and a sharp drop in global crude oil prices.
At the interbank foreign exchange, the rupee opened at 90.20 against the US dollar but kept rising to trade at 89.92, up 26 paise from its previous close.
The rupee snapped its four-day losing streak to appreciate 12 paise to settle at 90.18 against the American currency on Tuesday.
"The rupee opened firmer even as (US President) Donald Trump continues to threaten India with more tariffs. Exporters are expected to continue selling at high of the day on cash/spot basis while importers will buy the dips and more if the fall is close to 90 for the dollar," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.52.
Brent crude, the global oil benchmark, was trading 1.05 per cent lower at USD 60.06 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex declined 169.64 points to 84,909.30 in early trade, while Nifty was down 42.35 points to 26,128.90.
Foreign institutional investors offloaded equities worth Rs 107.63 crore on Tuesday, according to exchange data.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Two killed as bus hits motorbike
Thane (PTI): Two young men were killed and another was seriously injured when a speeding bus rammed into their motorcycle in Mumbra area of the city on Tuesday evening, police said.
The victims, all residents of Thakur Pada, were riding from Roshni Mahel toward Y Junction.
"The motorcycle was hit from behind by a bus driven by Mustafa Hussain Sheikh (58). The two-wheeler got dragged under the front wheel of the bus," said a traffic police official.
Sangam Rajesh Pulshare (21) and Avinash Ramdas Davande (19) died while Mahesh Bhagwan Vare (18) sustained serious injuries.
The bus driver was detained and a case was being registered at the Mumbra police station, said the official.
