Rupee falls 7 paise to 89.97 against US dollar in early trade
Mumbai (PTI): The rupee fell 7 paise to 89.97 against the US dollar in early trade on Friday amid sustained FII outflows and a rise in global crude oil prices.
The apprehension of further tariffs by the US and weak sentiments at the domestic equity markets fuelled selling of equities by foreign investors, putting more pressure on the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 88.88 against the US dollar before slipping to 89.97, down 7 paise from its previous close.
The rupee settled 3 paise lower at 89.90 against the US dollar on Thursday, amid sustained outflow of foreign funds and a stronger greenback.
"There was huge volatility in the rupee market on Thursday as the RBI sold dollars at 89.99 and brought rupee up to 89.73 and then FPIs bought dollars. The RBI has been capping the dollar upside presently, creating huge oversold positions for itself which could keep the dollar well bid at lower levels as the RBI would try to square up positions," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, was trading flat at 98.93.
Brent crude, the global oil benchmark, was trading 0.53 per cent higher at USD 62.32 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex declined 78.84 points to 84,102.12, while the Nifty dipped 21.50 points to 25,850.85.
Foreign institutional investors offloaded equities worth Rs 3,367.12 crore on Thursday, according to exchange data.
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345 Indian fishermen stranded in Iran return home via Armenia
New Delhi (PTI): A group of 345 Indian fishermen, who were stranded in Iran amid escalating regional tensions, returned to India via Armenia on Saturday, officials said.
External Affairs Minister S Jaishankar thanked his Armenian counterpart Ararat Mirzoyan for assistance in return of the Indian nationals.
The Indian nationals arrived in Chennai this evening, the officials cited above said.
The circumstances that led to them being stranded in Iran were not immediately known.
"Thank FM @AraratMirzoyan and the Government of Armenia for facilitating the evacuation of Indian fishermen today from Iran, through Armenia to India," Jaishankar said on social media.
Over 1,500 Indian nationals have left Iran through land border crossings in Armenia and Azerbaijan since the start of the West Asia conflict over a month ago.
"A group of Indian fishermen, stranded in Iran, are returning home via Armenia today; their flight is expected to reach India this evening," a government statement said.
It said the Ministry of External Affairs continues to closely monitor the evolving situation in the West Asian region, with the safety, security and welfare of the Indian community being accorded the highest priority.
It also made a mention of five Indians being injured in Abu Dhabi on Friday.
According to Abu Dhabi authorities, the Indian nationals were among the 12 people injured by debris from an intercepted missile.
"In an attack in Abu Dhabi, five Indian nationals were injured; four have been discharged, one remains under treatment," the Indian government's statement said.
It said the Indian mission in Abu Dhabi is extending "full" assistance and coordinating with local authorities, adding that their flight is expected to reach India this evening.
