Rupee rises 28 paise to 92.86 against US dollar in early trade
Mumbai (PTI): The rupee jumped 28 paise to 92.86 against the US dollar in early trade on Friday amid hopes of easing geopolitical tensions and positive sentiment in domestic equity markets.
Buying of Indian equities by foreign investors also supported the local currency even though it stayed under pressure due to a firm dollar, forex traders said.
At the interbank foreign exchange market, the rupee opened at 92.93 and gained further to trade at 92.86 against the greenback in early deals, up 28 paise from the previous closing level.
On Thursday, the rupee strengthened 19 paise to settle at 93.14 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.05 per cent at 98.07.
Brent crude, the global oil benchmark, was trading 1.16 per cent down at USD 98.24 per barrel in futures trade.
Analysts said that crude oil prices fell below USD 100/barrel amid expectations that the crisis in West Asia would soon come to an end.
In a latest development on the geopolitical front, China, a close ally of Iran and the largest importer of Iranian oil, has asked Tehran to ensure freedom and safe passage through the Strait of Hormuz, a key international trade route.
Besides, Israel and Lebanon have agreed to a 10-day ceasefire, which could also boost the peace efforts towards ending the devastating war involving the US, Israel and Iran.
On the domestic equity market front, the 30-share Sensex gained 176.08 points or 0.23 per cent to 78,164.76 in early trade, while the Nifty rose 33.90 points or 0.14 per cent to 24,232.60.
Foreign Institutional Investors turned net buyers on Thursday, as they bought equities worth Rs 382.36 crore, according to exchange data.
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World “being ravaged by handful of tyrants,” says Pope Leo days after spat with Trump
Vatican City: Pope Leo XIV has criticised global leaders stating that the world is “being ravaged by a handful of tyrants” during his visit to Cameroon, BBC reported.
His remarks came amid an ongoing spat with Donald Trump following a recent exchange of criticism.
During his visit to a region in the central African country affected by insurgency, the Pope spoke against leaders who, according to him, misuse religion for personal or political purposes.
He also criticised the large spending on wars, saying leaders “turn a blind eye to the fact that billions of dollars are spent on killing and devastation, yet the resources needed for healing, education and restoration are nowhere to be found”.
He further said, “the masters of war pretend not to know that it takes only a moment to destroy, yet often a lifetime is not enough to rebuild.”
Speaking in the north-western city of Bamenda, which has been affected by violence for nearly a decade, the Pope described the situation as “an endless cycle of destabilisation and death” in a “bloodstained” region.
Addressing people gathered at a cathedral, he said, “those who rob your land of its resources generally invest much of the profit in weapons, thus perpetuating an endless cycle of destabilisation and death.”
He also spoke about the need for peace, stating, “peace is not something we must invent: it is something we must embrace by accepting our neighbour as a brother and as our sister.”
The comments come days after a public disagreement between the Pope and Donald Trump. The Pope had earlier expressed concern over Trump’s warning that “a whole civilisation will die” if Iran did not accept US demands related to the war and the Strait of Hormuz.
Trump responded by criticising the Pope on social media, writing, “Leo should get his act together as Pope.”
In another post, he described the Pope as “weak on Crime and terrible for Foreign Policy,” while also sharing content portraying himself in a religious context. The now deleted post included Trump depicting himself as a Jesus-like figure. The post trigerred backlash.
He later continued his criticism and did not apologise.
Responding to questions about Trump’s remarks during his visit, the Pope said he had “no fear” of the US administration and would continue to speak against war. He also said earlier that he did not want to engage in a direct debate with Trump but would continue promoting peace.
The differences between the Pope and the US administration have also been visible in their positions on the conflict involving Iran, Israel and the United States.
During a Palm Sunday Mass at St Peter's Square, the Pope described the conflict as “atrocious” and said, “this is our God: Jesus, king of peace, who rejects war, whom no one can use to justify war.”
He added, “he does not listen to the prayers of those who wage war, but rejects them.” He also quoted a passage from the Bible, saying, “even though you make many prayers, I will not listen: your hands are full of blood.”
The Pope’s Africa tour includes visits to multiple cities across four countries and is his second major international trip since becoming Pope last year.
