Rupee declines 27 paise to 90.95 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 27 paise to 90.95 against the US dollar in early trade on Friday, weighed down by a strong American currency and higher crude oil prices due to the escalated geopolitical tension.
A selling rush in domestic equities further pressured the Indian currency, forex traders said.
At the interbank foreign exchange, the rupee opened at 90.94 and slipped further to trade at 90.95 against the greenback in early deals, losing 27 paise from its previous closing level.
The rupee rose 4 paise to settle at 90.68 against the US dollar on Wednesday. The currency exchange markets were closed on Thursday on account of Chatrapati Shivaji Maharaj Jayanti.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 97.89.
Brent crude, the global oil benchmark, was trading 0.14 per cent higher at USD 71.77 per barrel in futures trade.
Analysts attributed the strengthening dollar and crude prices to heightened tension between the US and Iran, with both countries signalling they are prepared for war if talks on Tehran's nuclear programme fizzle out.
On the domestic equity market front, Sensex fell 150.35 points to 82,347.79 in early trade while the Nifty declined 35.15 points to 25,419.20.
On Thursday, foreign institutional investors offloaded equities worth Rs 880.49 crore, according to exchange data.
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Meghalaya MP death: Assembly session for Feb 20 likely to be adjourned, says CM
Shillong (PTI): The Meghalaya assembly session for February 20, during which the state budget is scheduled to be presented, could be adjourned as a mark of respect to Shillong MP Ricky A J Syngkon, who died on Thursday evening, Chief Minister Conrad K Sangma said.
Syngkon reportedly collapsed while playing futsal on the outskits of the city, and doctors at a private hospital declared him dead around 8:45 pm.
"We have discussed with Deputy Chief Minister and in-charge of Parliamentary Affairs, Prestone Tynsong, and we will have a meeting tomorrow with the Business Advisory Committee (BAC) headed by the Speaker," Sangma told PTI.
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"I have communicated to the Deputy CM that it would be appropriate for the government not to go ahead with the proceedings of the House tomorrow. Even though tomorrow is the day we are supposed to present the budget, it will make absolute sense and a mark of respect to the departed soul if we were to postpone even the presentation of the budget," he said.
Sangma expressed shock over the sudden demise of Syngkon, recalling their recent meeting in Delhi where they discussed development plans for Meghalaya.
"I had met Syngkon about two weeks back in Delhi... that was the last meeting and conversation I had with him," the CM said.
Sangma recalled Syngkon's commitment and passion for the people of Khasi and Jaintia Hills, describing his demise as a "great loss for the state".
"Syngkon served the people with humility, vision and a sincere desire to uplift society. I express my deepest condolences to the family of late Ricky Syngkon, and I pray to the Almighty that he gives strength to the family members as well as his supporters and party leaders to bear the huge loss," the chief minister added.
