Rupee slips below 81-mark against US dollar for first time in early trade
Mumbai (PTI): The rupee depreciated 44 paise and slipped below the 81-mark against the US dollar for the first time in early trade on Friday, weighed down by the strong american currency and risk-off sentiment among investors.
Forex traders said escalation of geopolitical risk in Ukraine and rate hikes by the US Fed and Bank of England in a bid to contain inflation sapped risk appetite.
Further, the strength of the American currency in the overseas market, a negative trend in domestic equities, and risk-off moods amid escalation of geopolitical risk in Ukraine weighed on the local unit.
At the interbank foreign exchange, the rupee opened at 81.08 against the greenback, then fell further to 81.23, registering a fall of 44 paise over its previous closing.
On Thursday, the rupee plunged by 83 paise -- its biggest single-day loss in nearly seven months -- to close at an all-time low of 80.79 against the US dollar.
The Bank of England hiked its base rate by 50 basis points (bps) to a 14-year high of 2.25 per cent.
The Bank of Japan intervened in the FX market for the first time in 24 years to stem a falling Yen after it kept rates at record lows, IFA Global Research Academy said, adding that the Swiss National Bank hiked rates by a record 75 bps to 0.5 per cent.
The US Fed has hiked interest rates by 75 basis points to 3-3.25 per cent.
On Thursday RBI was conspicuous by its absence from the spot market as the rupee fell by 1 per cent possibly as it wanted the rupee to do the catching up, said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.
"All major events are over for this month as we await RBI's MPC to give its verdict on September 30, 2022," Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.05 per cent to 111.41.
Global oil benchmark Brent crude futures fell 0.57 per cent to USD 89.94 per barrel.
On the domestic equity market front, the 30-share BSE Sensex was trading 558.59 points or 0.94 per cent down at 58,561.13, while the broader NSE Nifty fell 153.10 points or 0.87 per cent to 17,476.70.
Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 2,509.55 crore, as per exchange data.
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No 'bacterial infection' found in bodies of 4 Mumbai family members who died after eating watermelon
Mumbai (PTI): The initial report submitted by the microbiology department of a Mumbai-based state-run hospital has said no "bacterial infection" was detected in the bodies of four family members, who died after consuming watermelon recently, officials said on Wednesday.
The Dokadia family, residents of Ghari Mohalla on Ismail Kurte Road, had hosted a get-together of relatives on the night of April 25. At around 1 am (on April 26), hours after the guests had left, Abdullah Dokadia (40), his wife Nasreen (35), and daughters Ayesha (16) and Zaineb (13) ate pieces of a watermelon.
They suffered severe bouts of vomiting and diarrhoea in the early hours of April 26 and were rushed to a local hospital before being referred to the government-run J J Hospital where all four died during treatment.
After the incident, Mumbai police, forensic experts and Food and Drug Administration (FDA) officials visited the house and had collected samples of every food item that constituted the family's last meal, including 'chicken pulav', watermelon, water, and other foodstuffs, and sent them to the Forensic Science Laboratory for analysis.
After the post-mortem of the deceased, their viscera was preserved for chemical analysis.
As the probe is underway, the microbiology department of the state-run J J Hospital has submitted its initial report to the police.
"As per the report, no bacterial infection has been detected so far in the bodies of the victims. No bacteria was found in their blood," the official said.
The exact cause of the death will be known once the forensic science lab submits its report, he said.
"The report will also clarify whether any food items consumed by the family members during the day contained anything poisonous," the official said.
