Rupee slips 13 paise to close at all-time low of 78.17 against US dollar

The rupee plunged 13 paise to close at a fresh all-time low of 78.17 (provisional) against the US dollar on Wednesday, as a lacklustre trend in domestic equities and persistent foreign fund outflows weighed on investor sentiments.

At the interbank foreign exchange market, the local currency opened at 77.99 and finally settled at its all-time low of 78.17, down 13 paise over its previous close of 78.04.

"Expectation is that US central bank could raise rates by 50 bps. Hawkish comments could continue to keep the dollar supported at lower levels. Major crosses remained under pressure following broad gains in the dollar," said Gaurang Somaiya, Forex & & Bullion Analyst, Motilal Oswal Financial Services.

Out of the 171.49 km of drain network, 47.49 km are primary drains, and 124.11 km are secondary.

Although the government initially announced grants only for primary drains, the BBMP insisted that it should also cover the secondary drains pointing out that flood-hit areas like Kendriya Vihar, Jawaharlal Nehru Centre for Advanced Scientific Resear...

The UDD order sets aside Rs 484.88 crore for primary drains and Rs 1,005.12 crore for secondary drains.

The grant will focus the strengthening work in flood-prone areas like HRBR Layout, Veerannapalya, Nayandahalli Junction Near Rachenahalli Lake, LBS Nagar in Yelahanka, Someshwara Layout in Arekere, Anugraha Layout, BEML 5th Stage, Pai Layout, and Vad...

The BBMP will roughly spend Rs 8.7 crore per km of remodelling work.