Rupee drops to record low of 79.62 against US dollar
Mumbai(PTI): The rupee depreciated by 3 paise to close at a record low of 79.62 (provisional) against the US currency on Wednesday following a firm dollar in overseas markets and losses in the domestic stock markets.
Crude oil prices trading near USD 100 per barrel level, however, supported the local unit, forex dealers said.
At the interbank forex market, the local unit opened strong at 79.55 against the greenback but could not hold on to gains and slipped in the negative territory. It witnessed an intra-day high of 79.53 and a low of 79.68.
It finally settled at 79.62 (provisional), down paise over its previous close of 79.59.
The dollar index, which measures the greenback's strength against a basket of six currencies, advanced 0.09 per cent to 108.17.
On the domestic equity market front, the BSE Sensex ended 372.46 points or 0.69 per cent lower at 53,514.15, while the broader NSE Nifty fell 91.65 points or 0.57 per cent to 15,966.65.
Meanwhile, Brent crude futures, the global oil benchmark, rose 1.21 per cent to USD 100.69 per barrel.
Foreign institutional investors remained net sellers in the capital market on Tuesday, offloading shares worth Rs 1,565.68 crore, as per exchange data.
Retail inflation dropped marginally to 7.01 per cent in June mainly due to a slight easing in prices of vegetables and pulses, though it remained above the Reserve Bank's comfort level for the sixth month in a row.
The consumer price index (CPI) based inflation stood at 7.04 per cent in the preceding month of May and 6.26 per cent in June 2021.
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US rules out use of nuclear weapons against Iran
Washington DC: The White House has reportedly ruled out the use of nuclear weapons against Iran, even as uncertainty continues over ongoing peace negotiations and a deadline set by US President Donald Trump approaches.
Issues bout a possible escalation had increased after US Vice President JD Vance said that the United States has “tools in our toolkit that we so far haven’t decided to use” in dealing with Iran.
His remarks came amid rising tensions and ahead of a deadline linked to peace efforts.
The situation has attracted attention as Trump warned Iran that its “whole civilization will die tonight tonight” if an agreement is not reached by Tuesday at 8 pm.
This statement led to speculation about the possibility of extreme military measures, including a nuclear strike.
Following Vance’s comments, the White House issued a clarification distancing itself from such interpretations. In a post on X, it said, "Literally nothing @VP said here 'implies' this, you absolute buffoons." In a later statement, it added that “only the president knows” what action will be taken regarding Iran.
Literally nothing @VP said here "implies" this, you absolute buffoons https://t.co/7JU3wXMaWX
— Rapid Response 47 (@RapidResponse47) April 7, 2026
