Rupee falls 31 paise to all-time low of 91.28 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 31 paise to an all-time low of 91.28 against the American currency in early trade on Wednesday, weighed down by steady dollar demand and a cautious global mood.
Forex traders said rising geopolitical uncertainty, including renewed US expansionary signals, has increased risk aversion and kept emerging market currencies under pressure.
Moreover, a sluggish domestic stock market triggered by an exodus of foreign capital dented investors’ sentiment further, they said.
At the interbank foreign exchange, the rupee opened at 91.05 and lost ground to trade at 91.28 against the greenback, down 31 paise from its previous close.
On Tuesday, the rupee depreciated 7 paise to close at a record low of 90.97 against the US dollar.
"Markets were already uneasy when US President Donald Trump revived trade war rhetoric and renewed his push for Greenland. US Treasury yields jumped to four-month highs, while the dollar slipped for a second day - a sign that investors are questioning not just risk, but direction," CR Forex Advisors MD – Amit Pabari said.
Pabari further noted that "persistent global unease, coupled with a sustained break above 91.07, could gradually open the door toward the 91.70–92.00 zone, unless restrained by active intervention from the RBI.
"On the downside, any corrective pullback is likely to find its first line of support in the 90.30–90.50 range."
On December 16, 2025, the rupee reached its previous lowest intra-day level of 91.14 and its lowest closing level of 90.93 against the American currency.
Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.59.
Brent crude, the global oil benchmark, was trading 1.11 per cent lower at USD 64.20 per barrel in futures trade.
On the domestic equity market front, Sensex dropped 385.82 points to 81,794.65 in opening trade, while Nifty declined 91.5 points to 25,141.
Foreign institutional investors offloaded equities worth Rs 2,938.33 crore on Tuesday, according to exchange data.
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Surjewala slams Pratap Simha’s ‘vile’ remarks on CM Siddaramaiah, demands apology from BJP
Bengaluru (PTI): Congress general secretary and Karnataka in-charge Randeep Singh Surjewala on Saturday launched a sharp attack on the BJP over alleged disparaging remarks made by former Mysuru-Kodagu MP Pratap Simha against Chief Minister Siddaramaiah during an assembly bypoll campaign in Bagalkote.
Simha made the remarks while campaigning for BJP candidate Veerabhadrayya Charantimath, triggering a political row ahead of the by-elections scheduled for April 9.
Congress has fielded Umesh Meti, son of former MLA late M Y Meti, whose death necessitated the bye-election.
"Pratap Simha's vile remarks about Chief Minister Siddaramaiah in Bagalkot have exposed the BJP's despicable politics once again," Surjewala said in a social media post.
Alleging a larger political design, he added, "It is increasingly evident that Pratap Simha’s outburst is driven by desperation," and accused the BJP of using such remarks to target backward classes, Scheduled Castes, and minorities.
The Rajya Sabha member further claimed that the incident reflects a pattern within the party. "This is not one man's madness—it is the BJP’s political culture," he said, adding that the remarks were aimed at "denigrating leaders from marginalised communities".
Referring to past incidents, Surjewala said, "CM Siddaramaiah and his deputy D K Shivakumar have received death threats in the past, including one from BJP leaders who warned that their bodies would be stuffed into a refrigerator."
The Congress leader also criticised the BJP’s bypoll campaign strategy, alleging "internal contradictions".
He pointed to the party’s use of expelled MLA Basanagouda Patil Yatnal in campaigning despite earlier disciplinary action against him, accusing the BJP of resorting to "abuses and indignities" against opposition leaders.
Surjewala demanded immediate action from the BJP leadership, including Prime Minister Narendra Modi, BJP national president Nitin Nabin, state president B Y Vijayendra, and Leader of Opposition R Ashoka.
He said they must tender a public apology to Kannadigas, particularly to OBCs, SCs, and minorities, over the remarks, and urged the party to expel Simha if it does not repudiate his statements.
Surjewala also called for legal action, demanding that an FIR be registered against Simha and that strict measures be taken.
Warning of "political consequences", he said the electorate in the bypoll-bound constituencies would respond decisively if the BJP failed to apologise, asserting that voters would "teach the BJP a befitting lesson" in the elections.
There has been no immediate reaction from the saffron party yet.
