Rupee hits new record low; slumps 24 paise to 90.56/USD
Mumbai (PTI): The rupee depreciated 24 paise to a new record low of 90.56 against US dollar in early trade on Friday, as uncertainty over the India-US trade deal and persistent foreign fund outflows dented investors' sentiments.
Forex traders said rupee is under pressure largely due to aggressive dollar purchases from importers amid surging global prices for precious metals.
At the interbank foreign exchange, the rupee opened at 90.43 against the US dollar, then fell further to 90.56 against the greenback, registering a fall of 24 paise from its previous close.
On Thursday, the rupee had plunged 38 paise to close at an all-time low of 90.32 against the US dollar.
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"For the day the range of 90 to 90.60 should be honored with a close watch on RBI. Today is also the last day of the talks between the Indian and visiting American delegation and we hope a deal is announced after that," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent higher at 98.37.
Brent crude, the global oil benchmark, was trading higher by 0.67 per cent at USD 61.69 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading higher by 170.40 points at 84,988.53, while the Nifty was up 98.40 points at 25,996.95.
Foreign Institutional Investors sold equities worth Rs 2,020.94 crore on Thursday, according to exchange data.
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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.
