Rupee recovers from lowest level, gains 9 paise to 91.90 against US dollar in early trade
Mumbai (PTI): The rupee recovered from its lowest level and gained 9 paise to trade at 91.90 against the American currency in early deals on Friday, supported by lower crude oil prices in the international market.
According to forex traders, a sharp recovery in the Indian currency was capped by a strong greenback and withdrawal of foreign funds from domestic equity markets.
At the interbank foreign exchange, the rupee opened at 91.89 and strengthened up to 91.87 against the greenback before trading at 91.90 in initial deals, up 9 paisa from its previous closing level.
The rupee ended on a flat note at its lowest level of 91.99 against the dollar on Thursday.
On January 23, the currency hit an all-time intraday low of 92 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.36 per cent higher at 96.48.
Analysts said the dollar index strengthened after the US Federal Reserve kept the interest rate unchanged at the conclusion of its first policy decision of 2026.
Brent crude, the global oil benchmark, was trading 1.50 per cent lower at USD 69.62 per barrel in futures trade.
On the domestic equity market front, Sensex declined 520.07 points or 0.63 per cent to 82,046.30 in early trade, while Nifty dropped 157.65 points or 0.62 per cent to 25,261.25.
Foreign institutional investors sold equities worth Rs 393.97 crore on Thursday, according to exchange data.
According to the Economic Survey, tabled in parliament on Thursday, the rupee is "punching below its weight" and "investor reluctance to commit funds to India warrants examination at a time when inflation is under control and the growth outlook is favourable".
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Surjewala slams Pratap Simha’s ‘vile’ remarks on CM Siddaramaiah, demands apology from BJP
Bengaluru (PTI): Congress general secretary and Karnataka in-charge Randeep Singh Surjewala on Saturday launched a sharp attack on the BJP over alleged disparaging remarks made by former Mysuru-Kodagu MP Pratap Simha against Chief Minister Siddaramaiah during an assembly bypoll campaign in Bagalkote.
Simha made the remarks while campaigning for BJP candidate Veerabhadrayya Charantimath, triggering a political row ahead of the by-elections scheduled for April 9.
Congress has fielded Umesh Meti, son of former MLA late M Y Meti, whose death necessitated the bye-election.
"Pratap Simha's vile remarks about Chief Minister Siddaramaiah in Bagalkot have exposed the BJP's despicable politics once again," Surjewala said in a social media post.
Alleging a larger political design, he added, "It is increasingly evident that Pratap Simha’s outburst is driven by desperation," and accused the BJP of using such remarks to target backward classes, Scheduled Castes, and minorities.
The Rajya Sabha member further claimed that the incident reflects a pattern within the party. "This is not one man's madness—it is the BJP’s political culture," he said, adding that the remarks were aimed at "denigrating leaders from marginalised communities".
Referring to past incidents, Surjewala said, "CM Siddaramaiah and his deputy D K Shivakumar have received death threats in the past, including one from BJP leaders who warned that their bodies would be stuffed into a refrigerator."
The Congress leader also criticised the BJP’s bypoll campaign strategy, alleging "internal contradictions".
He pointed to the party’s use of expelled MLA Basanagouda Patil Yatnal in campaigning despite earlier disciplinary action against him, accusing the BJP of resorting to "abuses and indignities" against opposition leaders.
Surjewala demanded immediate action from the BJP leadership, including Prime Minister Narendra Modi, BJP national president Nitin Nabin, state president B Y Vijayendra, and Leader of Opposition R Ashoka.
He said they must tender a public apology to Kannadigas, particularly to OBCs, SCs, and minorities, over the remarks, and urged the party to expel Simha if it does not repudiate his statements.
Surjewala also called for legal action, demanding that an FIR be registered against Simha and that strict measures be taken.
Warning of "political consequences", he said the electorate in the bypoll-bound constituencies would respond decisively if the BJP failed to apologise, asserting that voters would "teach the BJP a befitting lesson" in the elections.
There has been no immediate reaction from the saffron party yet.
