Novak Djokovic kicked off his 2026 Australian Open campaign in style, securing a convincing straight-sets win over Spain's Pedro Martinez in the first round at Rod Laver Arena. The 38-year-old Serbian legend triumphed 6-3, 6-2, 6-2, marking his 100th career victory at Melbourne Park and
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Prague, Jan 19 (AP) A shooting at a town hall in northern Czech Republic on Monday left one dead and six others wounded, including three police officers, police said. Police said the suspect fatally shot himself and there was no further danger. The shooting took place at the Chribska town hall
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Rupee Rebounds To 89.45 Against US Dollar: Why Is It Rising?
Rupee Rebounds To 89.45 Against US Dollar: Why Is It Rising?
The Indian rupee jumped 22 paise to 89.45 against the US dollar on Monday, supported by foreign fund inflows and a positive trend in domestic equities. At the interbank foreign exchange market, the rupee opened at 89.53 against the US dollar, then gained some ground and touched 89.45 against the US dollar in the early trade, registering a gain of 22 paise over its previous close.
According to forex traders, corporate dollar inflows and Brent crude prices hovering near $60 per barrel supported investors' sentiment further.
On Friday, the rupee appreciated 53 paise to 89.67 against the US dollar.
Excess dollar liquidity, traders unwinding positions and hedging demand have all contributed to the rise, traders said, which have pushed up the one-year yield nearly 70 basis points this month.
The dollar-rupee pair has appreciated about 2 per cent from its recent lows, but it is still 5 per cent down on a year-on-year basis, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
The rupee had slumped to its all-time low of 91.0750 on December 16.
“The broader depreciation trend remains intact despite the near term consolidation," Bhansali noted.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 98.63.
Brent crude, the global oil benchmark, was trading higher by 0.83 per cent at USD 60.97 per barrel in futures trade.
Reports highlight firm RBI intervention last week with heavy dollar selling via state-run banks lifting the rupee from its recent lows, Bhansali said.
The rupee's rise could also indicate some tailwinds from the lower trade deficit during the month of November as also FPIs who have become buyers of Indian equity, Bhansali added.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 210.57 points higher at 85,139.93, while the Nifty was up 154.80 points at 26,121.20.
Foreign Institutional Investors purchased equities worth Rs 1,830.89 crore on Friday, according to exchange data.
Meanwhile, India's forex reserves jumped by $1.689 billion to $688.949 billion during the week ended December 12, the Reserve Bank of India said on Friday. In the previous reporting week, the overall reserves increased by $1.033 billion to $687.26 billion.
Source: News18
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