3.1 magnitude tremor hits Amreli in Gujarat; 2nd in six days in Saurashtra region
Amreli (Gujarat) (PTI): A 3.1 magnitude tremor hit Amreli district of Gujarat on Sunday, with no reports of casualties or damage to property, officials said.
The tremor was recorded at 4.10 pm with its epicentre located about 42 km south-southeast of Amreli in the Saurashtra region at a shallow depth of 11.6 km, said the Gandhinagar-based Institute of Seismological Research.
Nobody was injured, nor was there any property damage due to the tremor, said officials.
A similar tremor of 3.2 magnitude had hit the Saurashtra region’s Rajkot district on Tuesday.
“Many mild tremors have been experienced in Amreli in the past few days. Sarpanch of Mityala village confirmed that Sunday’s tremor was significantly felt,” said Savarkundla Member of Legislative Assembly Mahesh Kaswala.
He said Chief Minister Bhupendra Patel had assured him that a technical team would be sent to Amreli for further inspection.
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Rupee falls 20 paise to 95.43 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 20 paise to 95.43 against US dollar in early trade on Tuesday as market sentiments remained fragile after renewed military exchanges between US and Iranian forces in the Gulf region.
Forex traders said investor anxiety due to instability in the Gulf is causing massive capital flight into safe-haven assets, with the US dollar acting as the primary beneficiary.
Moreover, Brent oil prices is hovering near USD 113 per barrel, maintaining pressure on oil-importing economies like India.
At the interbank foreign exchange market the rupee opened at 95.30 then lost ground to touch 95.43 against the US dollar, in initial trade, registering a fall of 20 paise over its previous close.
Rupee fell 39 paise to close at an all-time low of 95.23 against the US dollar on Monday.
"With oil boiling rupee on Monday fell to a closing low of 95.0875 and this morning the opening was still lower as it becomes more and more vulnerable when dollar index rises due to safe-haven buying and oil prices rise due to the continuous fighting in the Gulf Region," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The higher oil prices will keep rupee sold off against the dollar as oil companies and FPIs intensify dollar buying, Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.51, up 0.15 per cent.
Brent crude, the global oil benchmark, was trading lower by 1.07 per cent at USD 113.22 per barrel in futures trade.
"Market sentiments remained fragile after renewed military exchanges between US and Iranian forces when Iranian forces launched fresh attacks in the Gulf as both sides sought to assert control over the strategic waterway," Bhansali said.
On the domestic equity market front, Sensex declined 361.62 points to 76,907.78 in early trade, while the Nifty dropped 134.90 points to 23,980.60.
Foreign Institutional Investors purchased equities worth Rs 2,835.62 crore on Monday, according to exchange data.
