Rupee falls 16 paise to 73.61 against US dollar in early trade
Mumbai, Oct 30: The rupee weakened by 16 paise to 73.61 against the US dollar in early trade Tuesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.
Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit.
At the interbank foreign exchange, after opening lower at 73.58, rupee weakened further to quote at 73.61 against the dollar registering a fall of 16 paise over its previous close.
The rupee ended almost flat at 73.45 against the US dollar Monday.
The dollar's weakness against some currencies overseas and easing crude oil prices, however, restricted the rupee fall, forex traders said.
Globally, Brent crude, the international benchmark, was trading 0.36 per cent down at USD 77.06 per barrel.
On a net basis, foreign investors pulled out Rs 2,230.79 crore from equity markets Monday, as per provisional data.
Meanwhile, the benchmark BSE Sensex plunged 135.93 points, to 33,931.47 in the opening trade.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Sahebaan Welfare Trust launches membership induction drive in UAE
Dubai (Press Release): Sahebaan Welfare Trust (SWT) Mangalore launched its membership induction drive recently at the premises of Northern Insurance Company on Sheikh Zayed Road in Dubai, United Arab Emirates.
The launching ceremony happened in the presence of trustees and members of the trust in UAE, including Nasir Syed, Mateen Ahmed Chilmi, Yunus Sheikh, Nisar Khan, Ajmal Syed, and Althaf Khalife.
As part of the induction drive, SWT unveiled its brochure, signaling the expansion of its membership outreach not only in India but also in the UAE and other countries.
Established in December 2023, SWT is dedicated to addressing the welfare needs of the Sahebaan community, predominantly Urdu-speaking individuals hailing from the DK and Udupi districts. Moreover, SWT aims to bridge the gap in representation for returning Sahebaan NRIs in India.
Embodying principles of peace and harmony, SWT adheres to a stringent group membership policy while respecting the laws of the respective countries.
During the ceremony, Syed Siraj Ahmed, General Secretary of SWT, provided insights into the organization's objectives, past achievements, and forthcoming plans. These include a series of bi-monthly welfare talks covering education, health, taxation, NRI investments in India, and active participation in governmental initiatives such as Swachh Bharat Abhiyan and traffic awareness campaigns, alongside fostering interfaith harmony.
Afroz Assadi, President of SWT, extended a warm welcome to all attendees, expressing gratitude for their presence and spoke on the importance of continued support and cooperation to realize the objectives set forth by SWT. The constructive and beneficial role of SWT Ladies Wing was noted and appreciated during the meeting.
Faizaan Khatib, Lead of the SWT Youth Wing was also present.
