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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Pak, Afghan forces trade fire along Chaman border: Report
Islamabad (PTI): A heavy exchange of fire between Pakistani and Afghan forces was reported from the key Chaman border, according to a media report on Saturday.
Injuries were reported from the district hospital, but no fatalities occurred, the Dawn newspaper reported.
Officials from both sides accused each other of instigating the flare-up late on Friday night across the border in the Balochistan province.
While Pakistani officials said that Afghan forces had fired mortar shells on the Badani area, Afghan Taliban spokesperson Zabihullah Mujahid claimed it was Pakistan that launched an attack on Spin Boldak, alleging that their forces were responding.
Pakistan's official sources told Dawn that Pakistani forces retaliated against the Afghan aggression and returned fire.
There were also reports of fighting on the Chaman-Kandahar highway, but these could not be immediately verified.
A senior official in Quetta confirmed on condition of anonymity that the exchange of fire started around 10 pm and continued until late at night.
The medical superintendent of Chaman district hospital said that three injured, including a woman, were brought to the medical facility.
There was neither any official word from the Inter-Services Public Relations -- Pakistan Army's media wing -- nor from the Foreign Office.
The Chaman border crossing, also known as Friendship Gate, connects Balochistan province to Afghanistan’s Kandahar.
Relations between Pakistan and Afghanistan have deteriorated amidst regular allegations by Pakistan regarding the failure of the Afghan regime to deny safe havens to Tehreek-e-Taliban Pakistan terrorists.
The two countries had agreed on a ceasefire following tensions last month, but the Foreign Office said last month that technically there was no truce as it was contingent on the Afghan Taliban stopping terrorist attacks in Pakistan, which they had failed to do.
