Facing Covid headwind, Rupee falls for 5th session

Besides concerns over Covid resurgence, weak domestic equities and strengthening American currency also weighed on investor sentiment. Over the last five trading days, the domestic unit has seen depreciation of 161 paise.

The scheme had netted about Rs 54,000 crore to the exchequer till early April and more is expected to come in based on the declarations already filed. The last date for making the payment has now been extended till June 30. (Representational)

The rupee depreciated by another 15 paise against the US dollar to register its fifth loss in a row on Friday, facing headwinds on the economy front due to rising Covid cases. Tumbling to its weakest level since November 4, 2019, the rupee settled at 74.74 against the US dollar.

Besides concerns over Covid resurgence, weak domestic equities and strengthening American currency also weighed on investor sentiment. Over the last five trading days, the domestic unit has seen depreciation of 161 paise.

On the equity market front, the BSE Sensex ended 154.89 points, or 0.31 per cent, lower at 49,591.32, while the broader NSE Nifty declined by 38.95 points, or 0.26 per cent, to 14,834.85.

S&P, Dow at record high

The S&P 500 and the Dow hit record highs as economy-linked stocks gained on optimism around strong US economic growth, as per a Reuters report. At 11:27 a.m. ET, the Dow Jones Industrial Average rose 76.22 points, or 0.23 per cent, to 33,579.79, and the S&P 500 gained 4.60 points, or 0.11 per cent, to 4,101.77.

The company said it will adhere to “applicable sanctions and regulatory frameworks and will be adapting the refinery operations to meet the compliance requirements”.

RIL says will comply fully with govt guidance on Western sanctions on Russian oil

Business9 hr ago

RIL, India's largest private sector refining major, is evaluating the impact of new sanctions on Russia's oil sector and will follow guidance from the Indian government. They will also comply with EU's guidelines on importing petroleum products.

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