Rupee gains 31 paise to close at 74.03 against U.S. dollar

Rupee witnessed an intra-day high of 74.03 and a low of 74.21 before finally settling at 74.03, a rise of 31 paise over its previous close

The rupee surged 31 paise to close at 74.03 (provisional) against the U.S. dollar on Monday amid robust buying in domestic equities.

At the interbank forex market, the local unit opened strong at 74.15 against the greenback and witnessed an intra-day high of 74.03 and a low of 74.21. It finally settled at 74.03, a rise of 31 paise over its previous close.

In the previous session, the rupee had settled at 74.34 against the U.S. dollar.

On the domestic equity market front, the BSE Sensex ended 650.98 points or 1.09% higher at 60,395.63, while the broader NSE Nifty jumped 190.60 points or 1.07% to 18,003.30.

Meanwhile, the dollar index, which measures the greenback’s strength against the basket of six currencies, rose 0.19% to 95.90.

Brent crude futures, the global oil benchmark, was trading 0.51% higher at $82.17 per barrel.

Foreign institutional investors were net buyers in the capital market on Friday, as they purchased shares worth ₹496.27 crore, as per stock exchange data.

Gold declines ₹54; silver tanks ₹178

Gold settled at ₹46,502 per 10 grams in the previous trade

Gold in the national capital on January 10 declined ₹54 to ₹46,448 per 10 grams in line with weak international precious metal prices along with rupee appreciation, according to HDFC Securities.

The precious metal settled at ₹46,502 per 10 grams in the previous trade.

Silver also dipped by ₹178 to ₹59,217 per kg, from ₹59,395 per kg in the previous trade.

The rupee surged 31 paise to close at 74.03 (provisional) against the US dollar on Monday. It appreciated by 18 paise to 74.16 against the U.S. dollar in the opening trade.

In the international market, gold was trading lower at $1,794 per ounce and silver was flat at $22.28 per ounce.

"Gold prices traded down with spot gold prices at COMEX trading at $1,794 per ounce on Monday. Gold prices traded under pressure on firm dollar and strong U.S. bond yields," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Cladding concerns, roaming charges and a Rolls-Royce record

Ian King speaks to the executive chairman of the Home Builders Federation about how ministers are calling for developers to fix dangerous cladding.

Plus, hear from the chief commercial officer of mobile at Virgin Media O2 about how many phone users face roaming charges when heading to Europe this year.

And the boss of Rolls-Royce Motor Cars joins the show to discuss the firm’s record annual sales.

US Warns Iran Of ‘severe Consequences’ If It Attacks Americans

The United States has warned Iran of severe consequences if it attacks any American nationals, including the 51 people against whom Tehran imposed sanctions at the weekend.

The warning by National Security Advisor Jake Sullivan came in the wake of Iran targeting US officials over the killing of General Qassem Soleimani in a drone strike in 2020.

Those sanctioned by Iran’s foreign ministry include General Mark Milley and former White House National Security Adviser Robert O’Brien.

In a statement issued on Sunday, Sullivan said Iran’s proxy militias continue to attack American troops in the Middle East, and Iranian officials threaten to carry out terror operations inside the United States and elsewhere around the world.

“Make no mistake: the United States of America will protect and defend its citizens. This includes those serving the United States now and those who formerly served. As Americans, we have our disagreements on politics. We have our disagreements on Iran policy. But we are united in our resolve against threats and provocations. We are united in the defense of our people,” the statement added.

Washington vowed to work with its allies and partners to deter and respond to any attacks carried out by Iran.

“Should Iran attack any of our nationals, including any of the 51 people named yesterday, it will face severe consequences”, Sullivan said.

Denver weather: Mild, dry week ahead

Denver is in for a quiet weather week, as mild winter temperatures last throughout the next several days.

According to the National Weather Service in Boulder, Denver will reach 54 degrees under sunny skies on Monday. The low will dip to 23 degrees.

Tuesday will be more of the same; a clear day with a high of 53 degrees and a low of 23 degrees.

Wednesday should be clear as temperatures will warm to 55 degrees and cool back down to 30 degrees.

Thursday could be the warmest day of the week, and there’s a slight chance of snow for Friday.

Cerus Preliminary 2021 Product Revenue To Exceed Its Guidance Range – Quick Facts

Cerus Corporation (CERS) reported preliminary fourth quarter product revenue of $39.9 million, an increase of 41% from a year ago. The company expects preliminary full-year 2021 product revenue to be $130.9 million, exceeding the most recent 2021 product revenue guidance range of $127-$129 million.

The company expects full-year 2022 product revenue to be in the range of $157-$164 million, representing growth of approximately 20%-25%.

Cerus said it is beginning the nationwide launch early for INTERCEPT Fibrinogen Complex after one of the company’s blood center production partners, Gulf Coast Regional Blood Center, received its BLA approval from FDA.

Enterprise Products Partners To Acquire Navitas Midstream Partners – Quick Facts

Enterprise Products Partners L.P. (EPD) said its affiliate has entered into a definitive
agreement to acquire Navitas Midstream Partners, LLC from an affiliate of Warburg Pincus LLC in a debt-free deal for $3.25 billion in cash. Navitas Midstream provides natural gas gathering, treating and processing services in the core of the Midland Basin of the Permian. This acquisition is expected to be completed in the first quarter of 2022.

Randy Fowler, co-chief executive officer and chief financial officer of Enterprise’s general partner, said: “We believe this acquisition will be immediately accretive to distributable cash flow per unit. Based on the current outlook for commodity prices in 2023, which would be our first full year of ownership, we believe distributable cash flow accretion will be in the range of $0.18 to $0.22 per unit.”