Rupee falls 4 paise to 83.32 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 4 paise to 83.32 against the US dollar in the morning session on Monday, tracking a negative trend in domestic equities.
Persistent foreign fund outflows also weighed on the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 83.31 against the dollar. It touched a low of 83.32 in initial deals, registering a fall of 4 paise over its previous close.
On Friday, the rupee settled at 83.28 against the American currency.
"We expect the RBI to intervene to bring it within the 83.20-83.30 range. We otherwise expect a range-bound session with volumes being low on account of the festive season," India Forex And Asset Management Pvt Ltd (IFA Global) said in a research note.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.82, lower by 0.04 per cent.
Global oil benchmark Brent crude futures declined 0.93 per cent to USD 80.67 per barrel.
On the domestic equity market front, BSE Sensex was trading 262.56 points or 0.40 per cent lower at 64,996.89 points, while the broader NSE Nifty declined 70.55 points or 0.36 per cent to 19,455.00 points.
Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 190.06 crore, according to exchange data.
India's forex reserves jumped by USD 4.672 billion to USD 590.783 for the week ended November 3, the Reserve Bank said on Friday.
Foreign currency assets, a crucial part of the reserves, rose by USD 4.392 billion, as per the central bank.
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Ashoka University Professor Ali Khan Mahmudabad arrested over remarks on Operation Sindoor
sparks free speech debate
Sonipat/New Delhi: Ali Khan Mahmudabad, Associate Professor and Head of the Department of Political Science at Ashoka University, has been arrested following remarks made on social media regarding media briefings related to Operation Sindoor. The arrest has ignited a fresh debate on academic freedom and political sensitivities in India.
The arrest was initiated based on a complaint filed by Yogesh Jatheri, General Secretary of the BJP Yuva Morcha in Haryana. According to sources, Mahmudabad was taken from his Delhi residence without a transit remand, prompting criticism from several academics and activists. Delhi University professor Apoorvanand stated, "Haryana police has illegally arrested Dr. Ali Khan. Taken to Haryana from Delhi without transit remand. FIR at 8 PM. Police reached his home the next morning at 7 AM!"
Mahmudabad's remarks, referring to the press briefings by Wing Commander Vyomika Singh and Colonel Sofia Qureshi as "optics," sparked controversy. He had stated, “Optics must translate to reality on the ground, otherwise it’s just hypocrisy,” as reported by PTI.
In response, the Haryana State Commission for Women issued a notice to Mahmudabad, citing suo motu cognisance of public statements made around May 7. However, the professor did not appear before the Commission in Panchkula as required.
Reacting to the developments, Mahmudabad defended his remarks in a public statement on social media platform X. He said, “I am surprised that the Women's Commission, while overreaching its jurisdiction, has misread and misunderstood my posts to such an extent that they have inverted their meaning.”
He added that his work has always upheld constitutional values. “My academic record, public writings, and policy work, including collaborations with senior bureaucrats, military officers, and politicians, attest to the fact that I have made it a priority to protect the unity and integrity of India,” he said.
Mahmudabad further asserted that his social media posts were aimed at promoting peace and harmony while appreciating the Indian armed forces for their resolve. “I exercised my fundamental right to freedom of thought and speech in order to promote peace and harmony, and to applaud the Indian armed forces for their resolute action,” he said.
Ashoka University issued a statement distancing itself from Mahmudabad’s personal views. “Comments made by a faculty member on his personal social media pages do not represent the opinion of the university. These statements have been made by him independently in his individual capacity,” the university said.
Reaffirming support for the armed forces, the university added, “Ashoka University and all members of the Ashoka community are proud of India's armed forces and support them unequivocally in their actions towards maintaining national security.”
