New Delhi [India], June 22 (ANI): Indian currency rupee on Wednesday touched yet another fresh low of 78.29 per US dollar, primarily due to growing concerns about rising inflation.

Mumbai Dec 31 PTI The rupee rose by 13 paise to close at 7429 against the US dollar on the last trading session of 2021 tracking positive domestic equities amid year-end dollar selling by banks and exporters The rupee however closed the 2021 year with overall losses of 122 paise or 167 per cent due to a rise in crude oil prices and firming up US bond yields amid expectations of rate hike by the US Federal Reserve to rein in inflation The rupee had closed at 7307 on December 31 2020 The local unit on the last trading day of 2021 opened at 7435 against the greenback at the interbank foreign exchange market and witnessed an intra-day high of 7410 and a low of 7438 It finally settled at 7429 a rise of 13 paise In the previous session the rupee surged 29 paise to close at a more than one-month high of 7442 against the US dollar On a weekly basis however the domestic unit registered a gain of 74 paise This is the second consecutive week of gain for the local unit The rupee has also registered the first monthly gain in four months Traders said the rupee is trading in a narrow range as market participants remained on the sidelines following New Year holidays Forex traders are keenly waiting for cues from the Organization of the Petroleum Exporting Countries and its allies known as OPEC meeting outcome in the first week of January 2022 Rupee outperformed among Asian currencies this week following weaker dollar index and recovery in risk-on sentiments said Dilip Parmar- Research Analyst HDFC Securities Parmar further noted that the local currency registered second consecutive weekly gain and marked first monthly gain in the last four months all thanks to foreign fund inflows in primary markets and dollar selling from state-run banks on behalf of exporters According to Jateen Trivedi Senior Research Analyst at LKP Securities the positive trend in the rupee was backed by gains in the secondary capital market With muted dollar prices and good performance in the secondary capital markets helped the rupee Further there was no US dollar buying by the RBI or big banks due to the holiday season and this helped the rupee gain momentum from 7520 to 7420 in the last week of 2021 Trivedi said On the domestic equity market front the BSE Sensex ended 45950 points or 080 per cent higher at 5825382 while the broader NSE Nifty surged 15010 points or 087 per cent to 1735405 Meanwhile the dollar index which measures the greenbacks strength against the basket of six currencies fell 004 per cent to 9592 Brent crude futures the global oil benchmark fell 074 per cent to USD 7894 per barrel Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 98632 crore as per exchange data PTI DRR BAL MR MR

Mumbai Dec 30 PTI The rupee surged 29 paise to close at 7442 provisional against the US dollar on Thursday following year-end dollar selling by banks and exporters amid muted domestic equitiesAt the interbank forex market the local unit opened strong at 7456 against the greenback and witnessed an intra-day high of 7438 and a low of 7465 It finally settled at 7442 a rise of 29 paiseIn the previous session the rupee had settled just one paisa lower at 7471 against the US dollarRupee after Wednesdays pause started heading north to monthly high on expectation of better inflows going ahead and dollar selling from exporters on year-end Central banks remain aside from intervening and technical selling has been seen accelerated in USDINR on breaking of support 7450 said Dilip Parmar- Research Analyst HDFC SecuritiesOn the domestic equity market front the BSE Sensex ended 1217 points or 002 per cent lower at 5779432 while the broader NSE Nifty declined 965 points or 006 per cent to 1720395Meanwhile the dollar index which measures the greenbacks strength against the basket of six currencies rose 026 per cent to 9618Brent crude futures the global oil benchmark fell 068 per cent to USD 7869 per barrelForeign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 97523 crore as per exchange data PTI DRR DRR BAL BAL

Mumbai Dec 22 PTI The rupee appreciated by 5 paise to close at 7554 against the US dollar in range-bound trade on Wednesday extending gains for a fifth straight session helped by firm domestic equity markets Lower crude prices in the international market and a subdued dollar overseas also supported the local unit forex dealers said The rupee resumed higher at 7556 per dollar against the previous close of 7559 at the interbank foreign exchange market and hovered in a range of 7548 to 7565 before settling at 7554 registering a rise of 5 paise Rupee continued its northbound journey for the fifth day in a row following the rebound in risk sentiments and dollar selling from exporters The market has also started pricing quarter and year-end rebalancing which may bring some extra dollar inflows Spot USDINR is expected to trade in the range of 7510 to 7570 in next couple of days ahead of the Christmas holiday The bias for pair remains slightly lower amid a recovery in risk assets and the lower dollar index Dilip Parmar- Research Analyst HDFC Securities said The dollar index which gauges the greenbacks strength against a basket of six currencies was trading lower by 004 per cent at 9645 Brent crude futures the global oil benchmark fell 026 per cent to USD 7379 per barrel Crude and dollar prices traded muted and secondary capital markets performance helped the rupee gain as capital markets showed strength for the last two days Going ahead rupee can be seen between the 7535-7585 range Jateen Trivedi Senior Research Analyst at LKP Securities said Emkay Global Financial Services in a note stated that after last weeks central bank policies there are hardly any positive surprises left for the USDINR spot Omicron continues to be a cloud of uncertainty and unless there is no sharp rise in death cases it can be looked past The focus will be on the upcoming US PCE release a stronger-than-expected PCE report will ignite further buying interest However the upside in USDINR spot will be capped by RBI intervention On the domestic equity market front the BSE Sensex ended 61155 points or 109 per cent higher at 5693056 while the broader NSE Nifty surged 18460 points or 11 per cent to 1695545 Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 120982 crore exchange data showed PTI BAL MR

Mumbai Sep 28 PTI The Mumbai police have arrested two workmen from Gujarat for allegedly stealing gold ornaments from the home of a city-based businessman which they were renovating an official said on Tuesday The police on Monday nabbed Dilip Parmar and Pankaj Kumar Meena who were working in the complainants apartment in the western suburb of Kandivali the official said As the renovation work was underway the businessman had shifted to another flat along with his family he said The complainant had left behind the keys to a locker in his flat which the accused came to know and during the course of their work they stole valuables from it the official said The duo travelled to their hometown in Gujarat and buried the stolen valuables in a pit he said adding that the accused returned to Mumbai and completed their work at the complainants flat The family found out about the theft after moving back to their apartment following which a police complaint was registered the official said PTI ZA ARU ARU