Rupee falls 7 paise to all-time low of 80.05 against US dollar in early trade
Mumbai, Jul 19: The rupee depreciated 7 paise to an all-time low of 80.05 against the US dollar in early trade on Tuesday tracking the strength of the American currency and firm crude oil prices.
At the interbank foreign exchange, the rupee opened at 80 against the American dollar, then lost ground to quote at 80.05, registering a fall of 7 paise from the last close.
In initial trade, the local unit also touched 79.90 against the American currency.
On Monday, the rupee for the first time declined to the low level of 80 against the US dollar in intra-day spot trading before ending the session 16 paise lower at 79.98 amid a surge in crude oil prices and unrelenting foreign fund outflows.
The rupee opened on a weaker note on Tuesday morning weighed down by outflows and high oil prices, Sriram Iyer, Senior Research Analyst at Reliance Securities said, adding that lack of intervention from the Reserve Bank of India (RBI) could also weigh on sentiments.
According to Iyer, the range for the USD/INR pair for Tuesday's session is 79.75-80.12.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.12 per cent higher at 107.49.
Global oil benchmark Brent crude futures fell 0.35 per cent to USD 105.90 per barrel.
On the domestic equity market front, the 30-share Sensex was trading 86.4 points or 0.16 per cent lower at 54,434.75, while the broader NSE Nifty fell 26.75 points or 0.16 per cent to 16,251.75.
Foreign institutional investors were net buyers in the capital market on Monday as they purchased shares worth Rs 156.08 crore, as per stock exchange data.
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Violence against Christians remain high in India, 47 FIRs lodged in 673 reported incidents: Report
New Delhi: In a concerning trend, incidents of violence against Christians in India remain high, with 673 incidents reported to the United Christian Forum (UCF) helpline by the end of October 2024. Uttar Pradesh leads with the highest number of reported incidents (182), followed by Chhattisgarh (139).
The UCF, a Delhi-based civil society organisation focused on Christian issues, highlighted the findings in its “Violence Monitor Report 2024”. The report, as cited by Maktoob on Thursday, noted that only 47 FIRs were registered out of a total of 673 incidents.
AC Michael, national coordinator of the UCF, told the news outlet about the growing difficulty for Christians to practice their faith in India. He noted that violence against Christians has escalated in recent years, stating, “In 2014, incidents of violence against Christians were fewer than a hundred. By 2018, the number increased to 292, and it has risen every year since. In 2023, we recorded around 750 incidents, meaning two Christians were attacked every day in our country.”
Michael also criticised the police for not taking adequate action against perpetrators. “The police detain pastors under false allegations of forceful conversion rather than taking action against the perpetrators,” he added.
The reported incidents of violence include physical violence, murders, sexual violence, intimidation, threats, social boycotts, damage to religious properties, desecration of religious symbols, and disruptions of prayer services. According to the UCF, Christians are facing varying levels of violence and discrimination across 23 of India’s 28 states.
