Rupee Touches 53, Weakest In Nearly Two Weeks

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Rupee fell below the 53 mark to hit its weakest level in nearly two weeks versus its previous close of 52.72-52.73, tracking broad gains in the dollar as investors are wary of taking on risk amid concerns of weak earnings in the United States.

Most Asian units weaker to mildly positive versus the dollar. Dollar demand from oil and other importers is also expected to boost the pair, though some resistance is expected around the psychologically key 53 level with exporters likely to step in to sell the greenback, dealers say.

The pair is likely to move in a 52.80 to 53.20 band during the day, they add.

SMS Me Your Problems, Mamata Tells Industrialists

Srinagar: At a time when the telecommunication companies in Kashmir Valley remains under constant scanner after government ordered ban on SMS several years three years ago, West Bengal, chief minister Mamata Banerjee Tuesday urged industrialists to feel free to send her an SMS to apprise her of any problems they face on projects.

“If you have any problem, you can send me an SMS. There will be no problem,” Banerjee told industrialists while addressing a gathering at Haldia in East Midnapore district.

The Trinamool Congress chief was in the district to inaugurate a slew of projects, including a resin plant of Dhunseri Petrochem & Tea Limited, JVL Agro’s new edible oil plant and a logistic park of Apeejay Surrendra Group at Haldia.

Banerjee said the state government would develop industrial belts at the potential areas such as Haldia, Durgapur, Asansol and Kalyani.

Appealing to entrepreneurs to invest in the state, she said infrastructure required for setting up new projects was already prepared.

“Infrastructure is ready. You just come forward,” she said. The chief minister said that the state would organise the next industrial trade fair at Haldia.

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