Rupee falls 12 paise to hit all-time low of 83.38 against US dollar
Mumbai, Nov 20: The rupee declined by 12 paise to settle at its all-time low of 83.38 against the US dollar on Monday, tracking a negative trend in domestic equities.
Foreign fund outflows also weighed on the local unit, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.25 and settled at its lifetime low level of 83.38 against the dollar, registering a fall of 12 paise from its previous close.
On Friday, the rupee settled at 83.26 against the American currency. Earlier, the rupee closed at its lowest level of 83.33 against the dollar on November 13, this year.
"The Indian rupee ended weaker on Monday as sustained dollar demand from state-run and foreign banks maintained pressure on the local unit. The rupee finally settled at 83.3400 against the US dollar versus its close at 83.2700 on Thursday.
"The currency had previously closed at this level on November 10, the same day it fell to a record low of 83.42. The rupee ended weak despite a rally in its Asian peers," Sriram Iyer, Senior Research Analyst at Reliance Securities, said.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.42 per cent lower at 103.48.
"Most Asian currencies strengthened, with the offshore Chinese yuan up over 0.6 per cent and leading the gains as the dollar weakened further this Monday's session. Additionally, the rupee has also struggled as dollar demand has persisted amid a lack of inflows," Iyer said.
In the overseas markets, the US Dollar Index was trading marginally weaker against the basket of currencies this Monday afternoon in Asian trading as traders awaited FOMC minutes this week, which could indicate when the Fed could start cutting rates.
Brent crude futures, the global oil benchmark, rose 0.66 per cent to USD 81.14 per barrel.
On the domestic equity market front, Sensex fell 139.58 points or 0.21 per cent to settle at 65,655.15 points. The Nifty declined 37.80 points or 0.19 per cent to 19,694.00 points.
Foreign institutional investors (FIIs) were net sellers in the capital markets on Monday as they sold shares worth Rs 645.72 crore, according to exchange data.
Meanwhile, India's forex kitty decreased by USD 462 million to USD 590.321 billion for the week ended November 10, the Reserve Bank said on Friday.
In the previous week, the overall reserves had increased by USD 4.672 billion to USD 590.783 billion.
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KEA announces dress code for candidates appearing for CET; Students urged to arrive 90 minutes early
Bengaluru: The Karnataka Examinations Authority (KEA) has announced a mandatory dress code and strict reporting guidelines for students appearing for the Common Entrance Test (CET), scheduled to be held from April 15 to 17.
According to a release, all candidates must adhere to a prescribed dress code: both male and female students are required to wear half-sleeve attire, preferably without collars. Male candidates must wear simple pants with minimal or no pockets, while items such as jeans, kurta-pyjamas, and shoes are prohibited. The use of electronic gadgets, including mobile phones, smartwatches, and earphones, will not be allowed inside examination halls.
To ensure smooth conduct of the exam, KEA has directed candidates to report to their respective centres at least 90 minutes prior to the commencement of the examination.
KEA Executive Director H. Prasanna emphasised the importance of early arrival. “Candidates must reach the centre one-and-a-half hours in advance to undergo security screening. Police personnel and home guards will be deployed to conduct thorough checks before entry,” he said. Prasanna also noted that facial recognition technology and QR code scanning would be used for identification of candidates.
To prevent any malpractice, Prasanna confirmed that all 775 exam centres across Karnataka will be monitored via CCTV surveillance, with real-time webcasting to ensure transparency. He also stated that district-level officials, including Deputy Commissioners and Chief Executive Officers of Zilla Panchayats, will oversee the process.
Highlighting the importance of the CET as an opportunity to improve rankings, Prasanna urged students not to skip the exam, even if they had underperformed or failed in their PU exams.
In the coastal districts of Dakshina Kannada and Udupi, a total of 30,614 students are expected to appear for the CET on April 16 and 17, across 66 designated examination centres.
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