Rupee falls 4 paise to 83.32 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 4 paise to 83.32 against the US dollar in the morning session on Monday, tracking a negative trend in domestic equities.
Persistent foreign fund outflows also weighed on the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 83.31 against the dollar. It touched a low of 83.32 in initial deals, registering a fall of 4 paise over its previous close.
On Friday, the rupee settled at 83.28 against the American currency.
"We expect the RBI to intervene to bring it within the 83.20-83.30 range. We otherwise expect a range-bound session with volumes being low on account of the festive season," India Forex And Asset Management Pvt Ltd (IFA Global) said in a research note.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.82, lower by 0.04 per cent.
Global oil benchmark Brent crude futures declined 0.93 per cent to USD 80.67 per barrel.
On the domestic equity market front, BSE Sensex was trading 262.56 points or 0.40 per cent lower at 64,996.89 points, while the broader NSE Nifty declined 70.55 points or 0.36 per cent to 19,455.00 points.
Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 190.06 crore, according to exchange data.
India's forex reserves jumped by USD 4.672 billion to USD 590.783 for the week ended November 3, the Reserve Bank said on Friday.
Foreign currency assets, a crucial part of the reserves, rose by USD 4.392 billion, as per the central bank.
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In a first, Meitei MLA visits Kuki relief camp in Manipur
Imphal (PTI): In a first since ethnic violence broke out in Manipur in 2023, a Meitei MLA on Monday visited a relief camp set up for the Kuki community in Ukhrul district.
BJP MLA Yumnam Khemchand Singh, who represents the Singjamei constituency in Imphal West, visited a camp at Litan Sareikhong and interacted with Kuki inmates who fled their homes during the violence.
"With Christmas approaching, we all should pray for the return of peace in the state," he told the inmates.
"There are conflicts almost everywhere in the world. But we should learn to live in harmony despite the existing differences. There should not be any hindrance in visiting each other's villages," he added.
Singh said this conflict should not be allowed to affect the future of children.
"We, the elders, both in the Hills and the Valley, may have differences, but we should think about our children's future," he said.
State BJP vice president H Shimray, who belongs to the Naga community, said Singh's visit is part of efforts to restore peace in the state and bring back the "previous love that existed between communities".
"We have been talking with Yumnam on how to start an interaction. He said there had to be a beginning," Shimray added.
Speaking to reporters, an inmate of the camp urged the government to allow them to return to their homes.
Over 260 people have been killed and thousands displaced in the clashes between the Kuki and Meitei communities, which have deeply divided the state on ethnic lines.
The state has been under the President's Rule since February, after BJP leader N Biren Singh resigned amid criticisms over his government's handling of the crisis.
