Rupee falls 10 paise to 90.15 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 10 paise to 90.15 against the US dollar in early trade on Tuesday, as dollar demand from corporates, importers and foreign portfolio investors dented investors' sentiments.
Forex traders said investors are in a wait and watch mode and market participants are waiting for clarity from the US FED before taking decisive positions.
At the interbank foreign exchange, the rupee opened at 90.15 against the US dollar, down 10 paise from its previous close.
On Monday, the rupee settled at 90.05 against the US dollar. Market is focussed on the stance the US Federal Reserve Chief chairman Jerome Powell will deliver in the US FED meeting this week.
"Any shift in tone could quickly change the direction for global currencies," CR Forex Advisors MD Amit Pabari said.
"With the dollar turning softer—driven by rising expectations of a Fed rate cut—and the RBI actively managing liquidity and hope of a trade deal, the rupee now looks set to settle into a period of consolidation within a broad 89.20–90.30 range," Pabari added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent lower at 99.04 Brent crude, the global oil benchmark, was trading lower by 0.19 per cent at USD 62.37 per barrel in futures trade.
"A combination of softer local equities, tepid Asia FX and pre-FED caution, higher US yields are weighing over rupee even as the dollar index holds itself near 99 levels.
"FPI equity outflows continue while uncertainty around US-India trade talks beginning on Wednesday are keeping the US dollar well bid while RBIs presence keep rupee well entrenched into a small range," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
India and the United States will commence three-day talks on the first phase of their proposed bilateral trade agreement here from December 10.
On the domestic equity market front, the benchmark sensitive index Sensex was trading lower by 381.91 points at 84,720.78, while the Nifty was down 139.55 points at 25,821.00.
Foreign Institutional Investors sold equities worth Rs 655.59 crore on Monday, according to exchange data.
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India harbouring big and bold dreams in space sector: Shubhanshu Shukla
Kolkata (PTI): Air Force Group Captain Shubhanshu Shukla, the first Indian astronaut to go to the International Space Station, on Wednesday said the country is harbouring “big and bold dreams”, foraying into human spaceflight after a hiatus of 41 years.
Shukla was the first Indian to visit the International Space Station as part of the Axiom-4 mission. He returned to India from the US on August 17, 2025, after the 18-day mission.
The space is a “great place to be”, marked by deep peace and an “amazing view” that becomes more captivating with time, he said, interacting with schoolchildren at an event organised by the Indian Centre for Space Physics here.
“The longer you stay, the more you enjoy it,” Shukla said, adding on a lighter note that he “actually kind of did not want to come back”.
Shukla said the hands-on experience in space was very different from what he had learnt during training.
He said the future of India’s space science was “very bright”, with the country harbouring “very big and bold dreams”.
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Shukla described his ISS flight, undertaken with support from the US, as a crucial “stepping stone” towards realising India’s ‘Vision Gaganyaan’.
“The experience gained is a national asset. It is already being used by internal committees and design teams to ensure ongoing missions are on the right track,” he said.
Shukla said the country’s space ambitions include the Gaganyaan human spaceflight programme, the Bharatiya Station (India’s own space station), and eventually a human landing on the Moon.
While the Moon mission is targeted for 2040, he said these projects are already in the pipeline, and the field will evolve at a “very rapid pace” over the next 10-20 years.
He told the students that though these targets are challenging, they are “achievable by people like you”, urging them to take ownership of India’s aspirations.
The sector will generate “a lot of employment opportunities” as India expands its human spaceflight capabilities, he noted.
Echoing the iconic words of India’s first astronaut Rakesh Sharma, Shukla said that from orbit, “India is still the best in the world”.
Shukla also asserted that the achievement was not his alone, but that of the entire country.
“The youth of India are extremely talented. They must stay focused, remain curious and work hard. It is their responsibility to help build a developed India by 2047,” he said.
Highlighting a shift from Sharma’s era, Shukla said India is now developing a full-fledged astronaut ecosystem.
With Gaganyaan and future missions, children in India will be able to not only dream of becoming astronauts, but also achieving it within the country, he said.
“Space missions help a village kid believe he can go to space someday. When you send one person to space, you lift million hopes. That is why such programmes must continue... The sky is not the limit,” Shukla said.
“Scientists must prepare for systems that will last 20-30 years, while ensuring they can integrate technologies that will emerge a decade from now,” he said.
Shukla added that he looked forward to more space missions, and was keen to undertake a space walk, which will require him to "train for another two years".
