Nadal clinches 11th French Open title
Paris, June 10: Rafael Nadal of Spain powered past Austrian Dominic Thiem in straight sets to clinch his record-extending 11th men's singles title at the French Open tennis championships here on Sunday.
Following his 6-4, 6-3, 6-2 victory, Nadal became the second player in history to have won 11 singles titles at any Grand Slam event after Margaret Court, who won 11 Australian Open titles, reported Xinhua news agency.
He also became the first player in the Open Era to have won 11 titles at three different Tour-level events, as he had done at ATP Monte-Carlo Masters and Barcelona Open.
Nadal, who led 6-3 in previous head-to-heads, broke Thiem's service in the second game, before the Austrian had his own response to tie at 2-all through a break.
Thiem was the only player to have defeated Nadal on clay prior to Roland Garros for the second straight year, and his quarterfinal victory over Nadal at the Madrid Masters snapped the Spaniard's 50-set winning streak on clay.
He displayed his lethal weapon of single-handed backhand, while being troubled by unfavorable performance on his first serves, conceding the first set 6-4.
Thiem already suffered four double faults despite four aces at the start of the second set, while Nadal maintained all of his serves in the second set to move a step further at 6-3.
Thiem save three break points to hold his service into the third set, but the "King of Clay" responded by fully exhibiting his powerful forehand for astute winners.
The Austrian was hampered by his many unforced errors after long rallies. Nadal finished another break in the third game to move in front, while injuring his left middle finger midway through the fourth game.
He continued his momentum following the medical timeout, and managed to convert his fifth match point on Thiem's poor backhand in the eighth game.
After claiming his 17th career Grand Slam title, Nadal is set to retain his top position at the latest ATP rankings ahead of arch rival Roger Federer.
"It's amazing, I can't describe my feelings because it's not even a dream to win here 11 times. It's impossible to think something like this," he said after the win.
"(The final) It was the best match tournament of me. It was important because Dominic is a very aggressive player. I had a tough moment in the third set when I got cramp in my hand. I was very scared."
Thiem, who had already recorded his best result at Grand Slams with a final appearance in Paris, will rise to No. 7 on world rankings.
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Rupee falls 5 paise to close at 89.94 against US dollar after RBI cuts repo rate
Mumbai (PTI): The rupee on Friday gave up its initial gains and settled for the day lower by 5 paise at 89.94 (provisional) against US dollar, after the Reserve Bank cut key benchmark interest rate for the first time in six months.
Forex traders said the Reserve Bank of India's (RBI) rate cut will weigh on the rupee, but RBI's decision to purchase government bonds worth up to Rs 1 lakh crore through open market operations (OMO), combined with a USD 5 billion buy-sell swap, will support the local currency.
At the interbank foreign exchange market, the rupee opened at 89.85 against the US dollar and gained ground, touching 89.69 in morning deals, registering a 20-paise gain from its previous close.
After the RBI's monetary policy announcement, the rupee lost ground and fell to 90.06 against the American currency, a 16-paise decline from its previous close of 89.89. The currency is down almost 5 per cent against the dollar this year, the worst performer in Asia.
The local unit finally settled for the day lower by 5 paise at 89.94 (provisional) against the American currency.
"Beyond the rate cut, RBI's decision to purchase government bonds worth up to Rs 1 lakh crore through OMO, combined with a USD 5 billion buy-sell swap, marks a decisive effort to restore durable liquidity and stabilize currency markets after the rupee's sharp depreciation," said Sachin Bajaj, Executive Vice President & Chief Investment Officer, Axis Max Life Insurance.
The RBI on Friday cut the key benchmark interest rate for the first time in six months and took steps to boost liquidity to support a "goldilocks" economy amid high US tariffs.
Reserve Bank Governor Sanjay Malhotra said the central bank does not target any band for the rupee in the forex market, and allows the domestic currency to find its own correct level.
"We don't target any price levels or any bands. We allow the markets to determine the prices. We believe that markets, especially in the long run, are very efficient. It's a very deep market," he said while replying to a question on rupee depreciation at a post-monetary policy press meet.
Malhotra said fluctuations in the market keep occurring, and the RBI's effort is always to reduce any abnormal or excessive volatility. "And that is what we will continue to endeavour," he added.
In its bi-monthly monetary policy, the RBI announced three-year USD/INR Buy Sell swaps of USD 5 billion this month. When asked if this is aimed at checking rupee depreciation, Malhotra said, "It is a liquidity measure. It is not to support the rupee".
The governor further said the country has sufficient foreign exchange reserves and that the current account is manageable, and that, given the strong fundamentals of the economy, the country should witness strong capital flows going forward.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 98.96.
Brent crude, the global oil benchmark, rose 0.02 per cent to USD 63.27 per barrel in futures trade.
On the domestic equity market front, Sensex jumped 447.05 points to settle at 85,712.37, while the Nifty climbed 152.70 points to 26,186.45.
Foreign institutional investors sold equities worth Rs 1,944.19 crore on a net basis on Thursday, according to exchange data.
