Rupee gains 5 paise to 88.63 against US dollar in early trade
Mumbai (PTI): The rupee pared initial losses and showed a slight recovery of 5 paise trading at 88.63 against the US dollar in early trade on Friday on the back of lower crude oil prices overseas and foreign capital infusion in domestic stocks.
The local currency, however, remained under pressure tracking a firm greenback and negative cues from domestic equity markets, forex traders said.
At the interbank foreign exchange market, the rupee opened at 88.67 and gained some ground to trade at 88.63 against the US dollar in initial deals, up 5 paise from its previous closing level.
On Thursday, the rupee depreciated 20 paise to close at 88.68 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.01 per cent up at 100.09.
Brent crude, the global oil benchmark, was trading 1.29 per cent lower at USD 62.56 per barrel in futures trade.
On the domestic equity market front, the Sensex declined 172.32 points to 85,460.36 in early trade, while the Nifty was down 59.35 points to 26,132.80.
Foreign institutional investors bought equities worth Rs 283.65 crore on a net basis on Thursday, according to exchange data.
The government data released on Thursday showed the pace of growth in the country's eight key infrastructure sectors stayed flat year-on-year in October as expansion in output of petroleum refinery products, fertiliser and steel was offset by a contraction in coal and electricity production.
The eight core industries of coal, crude oil, natural gas, petroleum refinery products, electricity, fertiliser, and steel had expanded by 3.3 per cent in September and by 3.8 per cent in October 2024.
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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.
