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Monday
February 2020
5:38 AM IST
News Headlines
China says significant drop in coronavirus cases; death toll climbs to 1,665        Two more Indians test positive for coronavirus on cruise ship off Japan        Agarwal back among runs, Pant too gets some form back        India to play day-night Test in Australia        Chennaiyin FC beat ATK 3-1 to boost play-off hopes        17 people from Delhi who returned from abroad before coronavirus screening showed symptoms, hospitalised        Kejriwal calls ministers-designate for dinner ahead of swearing-in, discusses development roadmap        Shaheen Bagh protesters say ready to meet Shah, but onus on govt to call them for talks        Surendran new Kerala BJP President        France confirms first coronavirus death outside Asia        Making efforts to disembark Indians from cruise ship after quarantine period ends: Indian Embassy        Kerala beat Chattisgarh by nine wickets in C K Nayudu trophy        Ishant passes fitness test, to join Indian team in NZ for Test series        Kerala Blasters register first win over Bengaluru FC in Hero ISL        Smriti Mandhana rises to 4th in ICC T20 rankings        Bopanna-Shapovalov pair enters semifinals in Rotterdam        DoT withdraws order that asked for no coercive action against defaulting telcos        Sensex, Nifty fall for 2nd day as banking, auto stocks slide        Erdogan raises Kashmir in Pak Parliament, says issue close to both countries        Born on a boat: new baby among 87 rescued off Canary Islands        
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Business News
Rupee hits fresh 6-mth low of 71.71; dives 28 paise
 
Mumbai: The Indian rupee on Tuesday furthered its loss by another 28 paise to close at a new six-month low of 71.71 against the US dollar as economic uncertainties continued to weigh.

Investors remained risk averse considering a host of factors including fast-spreading economic slowdown, outlook on foreign fund outflows and weakness in most emerging market currencies, according to forex traders.

However, there are expectations that the government will soon come out with stimulus measures to arrest slowdown in consumer demand in various sectors.

Meanwhile, higher crude oil prices also had its impact on rupee's trading pattern.

Brent crude futures, the global oil benchmark, rose 0.07 per cent to trade at USD 59.78 per barrel.

Starting off on a weaker note, the rupee fell to a day's low of 71.80 against the US dollar before settling at 71.71 against the US dollar, down 28 paise over the previous close. This is the lowest level for the local unit since February 4, when it closed at 71.80 a dollar.

On Monday, the Indian rupee had settled at 71.43 against the US dollar.

Meanwhile, the dollar index -- which gauges the greenback's strength against a basket of six currencies -- rose 0.06 per cent to 98.40.

The 10-year Indian government bond yield was steady at 6.58 per cent on Tuesday.

"Indian rupee declines for a second day as importers and foreign banks rush for the dollar amid recovery in crude oil prices. Market is also expecting fund outflows of around USD 102 million on the back of Shell selling stake in Mahanagar gas," said V K Sharma, Head PCG & Capital Markets Strategy, HDFC Securities.

The dollar Index hovered near a three-week high as expectations of fresh stimulus drove an improvement appetite for riskier assets and lifted US government bond yields, he said, adding that the next support for the rupee is seen at 72.5 odd levels.

In equities market, the BSE Sensex settled 74.48 points, or 0.20 per cent, lower at 37,328.01; while the NSE Nifty ended 36.90 points, or 0.33 per cent, down at 11,017.

Foreign institutional investors (FIIs) bought equities worth Rs 373.23 crore on Tuesday, according to provisional exchange data.

Meanwhile, Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.3419 and for rupee/euro at 79.1386. The reference rate for rupee/British pound was fixed at 86.8026 and for rupee/100 Japanese yen at 67.05.


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Govt allocates Rs 11,500 cr for Jal Jeevan Mission for FY21
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Rupee rises 25 paise to 71.33 against US dollar
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KERALA NEWS
Surendran new Kerala BJP President
 Thiruvananthapuram: Young firebrand leader K Surendran has been named as the President of BJP Kerala  
Student who tested Positive for coronavirus discharged
CM Assembly Election : Kerala CM congrats Arvind Kejriwal for AAP''s victory
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INTERNATIONAL NEWS
China says significant drop in coronavirus cases; death toll climbs to 1,665
 Beijing: China on Sunday announced a “significant drop” in coronavirus cases, as the WHO team scramb
Two more Indians test positive for coronavirus on cruise ship off Japan
France confirms first coronavirus death outside Asia
Making efforts to disembark Indians from cruise ship after quarantine period ends: Indian Embassy
NATIONAL NEWS
Kejriwal calls ministers-designate for dinner ahead of swearing-in, discusses development roadmap
 New Delhi: On the eve of his swearing-in as chief minister of Delhi, AAP national convener Arvind Ke
Shaheen Bagh protesters say ready to meet Shah, but onus on govt to call them for talks
SC allows Karti Chidambaram to travel to UK, France
Trump visit: Cong says AMC building wall to mask slum area
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