Rupee falls 24 paise to 94.39 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 24 paise to 94.39 against the US dollar in early trade on Tuesday, weighed down by elevated crude oil prices and month-end dollar demand amid a broader shift toward safe-haven assets.
Forex traders said Brent oil continued to move higher at USD 109 per barrel, keeping India's position vulnerable.
Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties dented investor sentiments further.
At the interbank foreign exchange market, the rupee opened at 94.35 against the US dollar, then lost some ground and touched 94.39 against the US dollar in initial trade, registering a fall of 24 paise over its previous close.
On Monday, the rupee had settled at 94.15 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.49.
Brent crude, the global oil benchmark, was trading higher by 0.99 per cent at USD 109.30 per barrel in futures trade.
The Indian rupee seems to be standing at a crossroads, not weak enough to fall, not strong enough to rise, said CR Forex Advisors MD Amit Pabari.
Meanwhile, Goldman Sachs has raised its oil price forecast to USD 94.39 per barrel, while trimming India’s 2026 growth forecast to 5.9 per cent.
"When growth expectations soften at the same time, it reduces the cushion the currency usually enjoys," Pabari added.
According to Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP, rising crude oil prices are keeping India’s position vulnerable.
"We have come to the end of the month, and the month-end demand could keep USD higher in the coming two days," Bhansali added.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 68.28 points or 0.09 per cent lower at 77,235.35, while the broader Nifty was trading up 14.25 points or 0.06 per cent at 24,029.25.
Foreign Institutional Investors offloaded equities worth Rs 1,151.48 crore on Monday, according to exchange data.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Woman's decomposed body found at rented flat in Bengaluru
Bengaluru (PTI): The body of a 34-year-old woman was found in a decomposed condition at her rented flat in Bengaluru, police said on Tuesday.
The deceased was identified as Pooja Dutta, a native of Dhanbad in Jharkhand, who was employed with a private company here, they said.
The incident in Adugodi came to light on Monday after neighbours alerted police about a foul smell emanating from her flat, police added.
Police said a team reached the spot, broke open the door and found Dutta's body in a nude and decomposed state, lying in a pool of blood. Preliminary suspicion is that the death may have occurred two to three days earlier, they said.
According to police, no death note was recovered from the spot, though torn papers were found scattered inside the house, prompting suspicion that she may have died by suicide after locking the door from inside.
The body has been sent for post-mortem examination to ascertain the exact cause of death. Once the autopsy report is received, it will be confirmed if it was a suicide or a murder, a senior police officer said, adding that all angles are being probed.
According to the landlady, Dutta had been living in the rented flat for the past three years and was last seen on April 23 when she went out to buy groceries.
The Adugodi police have registered a case of unnatural death, and further investigation is underway.
