Rupee falls 9 paise to close at all-time low of 83.33 against US dollar
Mumbai, Nov 1: The rupee depreciated 9 paise to close at an all-time low of 83.33 (provisional) against the US dollar on Wednesday, tracking a strong greenback against major rivals overseas and unabated foreign capital outflows.
Besides, a negative trend in domestic equities and elevated crude oil prices amid geopolitical uncertainty in the Middle East weighed on investor sentiments, according to forex traders.
At the interbank foreign exchange, the rupee opened at 83.26 against the dollar. During the trading session, it touched an intra-day low of 83.35 and a high of 83.26 against the American currency.
The local unit finally settled at its lifetime low of 83.33 (provisional), lower by 9 paise against its previous close.
On Tuesday, the rupee settled at 83.24 against the American currency.
"We expect the rupee to trade with a slight negative bias on the strong Dollar amid geopolitical uncertainty in the Middle East. Weak tone in domestic markets may also weigh on the rupee.
"Traders may take cues from manufacturing PMI from India and ADP non-farm employment, JOLTS job opening and ISM manufacturing PMI data from the US. Investors may remain cautious ahead of the FOMC meeting tonight. USD/INR spot price is expected to trade in a range of Rs 83-83.60," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.20 per cent higher at 106.87.
Global oil benchmark Brent crude futures advanced 1.34 per cent to USD 86.16 per barrel.
On the domestic equity market front, BSE Sensex was trading 283.60 points or 0.44 per cent lower at 63,591.33, while the broader NSE Nifty declined 90.45 points or 0.47 per cent to 18,989.15.
Forex traders said disappointing macroeconomic data from India and FII outflows further pressurised the rupee.
On the domestic macroeconomic data, the seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) slipped from 57.5 in September to 55.5 in October, the slowest rate of expansion since February.
Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 696.02 crore, according to exchange data.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Congress candidate from Uttara Kannada helps injured biker lying on highway
Karwar: Dr. Anjali Nimbalkar, the Congress contender vying for the Uttara Kannada seat in the ongoing Lok Sabha elections, showcased a gesture of empathy by aiding an injured motorcyclist. A video capturing the incident was shared on her social media platform, X (previously known as Twitter).
Sources indicate that Dr. Anjali encountered the injured motorcyclist while returning from her campaign on Thursday evening. The incident unfolded on the Yellapur-Sirsi Highway, where the rider was found injured and unattended. Dr. Anjali halted her journey and extended a helping hand, arranging for the rider's transportation to a nearby medical facility.
ALSO READ: KSRTC bus and auto rickshaw collide in Puttur, one dead
In her online post, which featured snapshots of the incident, Dr. Anjali expressed her heartfelt wishes for the swift recovery and comprehensive treatment of the injured individual.
While some online commentators commended Dr. Anjali's act, others raised concerns about the potential exploitation of the incident for social media publicity.
ಚುನಾವಣಾ ಪ್ರಚಾರ ಮುಗಿಸಿ ಪ್ರಯಾಣ ಮಾಡುತ್ತಿದ್ದ ವೇಳೆ ಯಲ್ಲಾಪುರ-ಶಿರಸಿ ಮಾರ್ಗ ಮಧ್ಯೆ ದುರಾದೃಷ್ಟವಶಾತ್ ಬೈಕ್ ಸವಾರನಿಗೆ ಅಪಘಾತವಾಗಿದ್ದು, ರಸ್ತೆ ಪಕ್ಕದಲ್ಲಿ ನೋವಿನಿಂದ ನರಳುತ್ತಿದ್ದರೂ ಯಾರು ಸಹಾಯಕ್ಕೆ ಬಂದಿರುವುದಿಲ್ಲ.
— Dr. Anjali Hemant Nimbalkar (@DrAnjaliTai) April 26, 2024
ಗಾಯಾಳುವನ್ನು ಕರೆದುಕೊಂಡು ಆಸ್ಪತ್ರೆಗೆ ಹೋಗುತ್ತಿದ್ದೇನೆ. ಗಾಯಾಳುವಿಗೆ ಏನು ಆಗದಂತೆ ಆ ದೇವರಲ್ಲಿ… pic.twitter.com/fr9igBVvlm
