Rupee hits all-time low of 92 against US dollar in early trade
Mumbai (PTI): The rupee hit an all-time low of 92.00 against the American currency in early trade on Thursday, weighed down by steady dollar demand and a cautious global mood.
Forex traders said the rupee fell after the dollar index rose from its 4-1/2-year lows, following the FED's announcement that it kept rates unchanged at the conclusion of its first policy decision of 2026.
Moreover, rising geopolitical uncertainty has increased risk aversion, keeping emerging market currencies under pressure.
At the interbank foreign exchange, the rupee opened at 91.95 and lost ground to trade at 92 against the greenback, down 1 paisa from its previous close amid increased month-end dollar demand.
On Wednesday, the rupee settled 31 paise down, revisiting its lowest-ever closing level of 91.99 against the greenback.
On January 23, the rupee hit an all-time intraday low of 92 against the US dollar.
"This steady capital drain has kept dollar demand elevated," CR Forex Advisors MD – Amit Pabari said.
"Oil prices have risen more than 4 per cent this week, extending gains for a third consecutive session to levels last seen in late September. The rise followed US warnings of potential military action if Iran fails to reach a nuclear agreement, heightening concerns over supply disruptions," Pabari said.
As a net oil importer, India remains particularly vulnerable to sustained increases in crude prices, Pabari added.
Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was trading 0.29 per cent lower at 96.16.
Brent crude, the global oil benchmark, was trading 1.32 per cent higher at USD 69.30 per barrel in futures trade.
"With USD/INR hovering near 92.00 in the NDF market, this level remains a key near-term pivot. A sustained move above it could open the door toward 92.20–92.50, but RBI support and a broadly softer dollar backdrop may cap upside and gradually pull the pair back toward 91.00–91.20," Pabari said.
On the domestic equity market front, Sensex declined 343.67 points to 82,001.01 in early trade, while Nifty dropped 94.2 points to 25,248.55.
Foreign institutional investors purchased equities worth Rs 480.26 crore on Wednesday, according to exchange data.
Meanwhile, India's industrial production grew at an over two-year high pace of 7.8 per cent in December 2025 on the back of robust output in manufacturing, mining and power sectors, according to government data released on Wednesday.
The factory output, measured in terms of the Index of Industrial Production (IIP), expanded by 3.7 per cent in December 2024.
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Distillery producing premium craft rum shuts down as LPG runs dry
Bengaluru (PTI): A craft rum distillery near Mysuru has temporarily shut its operations after failing to procure gas for its boilers, amid the ongoing LPG supply disruption triggered by the widening West Asia conflict, the unit's founder said.
Aruna Urs, founder of the distillery that produces Huli Spirits -- touted as India's first premium craft rum made from jaggery --announced the development on Thursday through his social media handle on X.
"Huli is closed from Monday as we are unable to procure LPG for our boiler. We had a public and a private supplier, and both managers categorically stated that the order from above is to only refill domestic canisters..." he added.
The premium, single-origin jaggery-based rum is produced at a micro-distillery located in Nanjangud taluk of Mysuru district.
Urs, however, did not mention how long the shutdown would continue.
Boilers are an essential component in the distillation process, and LPG is a critical component for the production.
Several small manufacturing units have been affected by the ongoing disruption caused by a shortage of commercial LPG cylinders in the market.
As a result, many restaurants, hotels and catering services have either shut their kitchens or are operating under strain using the limited stocks available.
