Rupee gains 32 paise to close at 82.27 against US dollar The rupee gained 32 paise to close at 82.27 (provisional) against the US dollar on Thursday, tracking the weakness of the American currency in the overseas market. Traders said the weak US Dollar and decline in US Treasury yields on the back of dovish Federal Open Market Committee (FOMC) boosted investor sentiments. Also read: Markets Wrap – Thu, 23 Mar ‘23: Nifty, Sensex tumble, rupee gains; Asia, US markets, Gold, Crude updates At the interbank foreign exchange, the domestic unit opened strong at 82.38 against the dollar and gained further ground and finally settled at 82.27 (provisional) against the American currency, registering a gain of 32 paise against its previous close. In intra-day trade, the rupee touched a high of 82.08 and hit the lowest level of 82.41 against the greenback. On Tuesday, the rupee settled at 82.59 against the US dollar. The foreign exchange market was closed on Wednesday on account of Gudi Padwa. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.03 per cent lower at 102.31. Also read: Nifty downtrend may continue if it breaks 16850, resistance at 17211; SRF, Paytm among top stocks to buy Global oil benchmark Brent crude futures declined by 0.93 per cent to USD 75.98 per barrel. The 30-share BSE Sensex closed 289.31 points or 0.50 per cent lower at 57,925.28 points while the broader NSE Nifty fell 75.00 points or 0.44 per cent to 17,076.90 points. Foreign Institutional Investors (FIIs) turned net buyers in the domestic capital market on Wednesday as they purchased shares worth Rs 61.72 crore, according to exchange data. PTI HVA DRR
The launched works involve rehabilitating the Galgamuwa Railway Station and upgrading the railway line from Maho to Anuradhapura, including additional tasks. Another project is the second phase of track rehabilitation from Maho to Omanthai (128 kms), funded by a $318 million Indian Line of Credit.
Transport Minister Gunawardena praised the efforts of Indian company IRCON in Sri Lanka and called for more cooperation in the railway sector. State Minister Shantha Bandara and officials from the Sri Lankan Ministry of Transport attended the event.
Railways is a priority for Indian assistance in Sri Lanka, with over $1 billion invested under five Indian Lines of Credit. IRCON has been involved in Sri Lanks since 2009. It has contributed to the modernisation of Sri Lanka Railways by reconstructing the entire railway line network in the Northern Province (253 Km) and upgradation of the Southern line (115 km), as well as improving safety through advanced signalling and telecommunication systems.
Despite Sri Lanka’s debt standstill in April 2022, India’s support under various Lines of Credit has continued.
(With PTI inputs)