Local train services hit after heavy rains in Mumbai; schools, colleges shut for 1st session
Mumbai (PTI): Local train services on the Central Railway routes were severely hit early Monday morning while various roads in Mumbai were waterlogged after some areas recorded more than 300 mm rainfall overnight, officials said.
The Brihanmumbai Municipal Corporation (BMC) in a statement issued in the morning said heavy rain is also expected on Monday.
It declared a holiday for the first session of the day for all the BMC, government and private schools and colleges in Mumbai municipal limits in order to avoid inconvenience to students.
"The decision for the next session will be announced after reviewing the situation," the statement said.
Suburban services of the Central Railway were severely affected due to waterlogging of tracks on both the Main and Harbour corridors, authorities said.
The civic body's disaster management department said suburban services on both the CR corridors resumed operation at 6.45 am.
The BMC said some areas in Mumbai received more than 300 mm rainfall from 1 am to 7 am on Monday.
The highest 315 rainfall in this period was recorded in Govandi area and 314 mm in Powai area, it said.
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Rupee falls 32 paise to all-time low of 95.20 against US dollar
Mumbai, Apr 30 (PTI): The rupee depreciated 32 paise to an all-time low of 95.20 against the US dollar in early trade on Thursday, weighed down by elevated Brent crude oil prices, hovering around USD 122 per barrel, and strong American currency.
Forex traders said the USD/INR pair may see further downside, as rising crude oil prices are likely to sharply impact India's import costs, while concerns over potential wider conflict in West Asia are fuelling investor anxiety.
Meanwhile, the US dollar added to gains after the US FED Reserve kept rates unchanged. Safe-haven demand was also boosted by another diplomatic setback between Washington and Tehran.
At the interbank foreign exchange market, the rupee opened at 95.01 against the US dollar, then lost some ground and touched an all-time low of 95.20 against the US dollar in initial trade, registering a fall of 32 paise over its previous close.
On Wednesday, the rupee depreciated 20 paise to close at an all-time low of 94.88 against the US dollar.
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"The main effect on the rupee has been from the rising oil prices, which touched USD 120 per barrel and looked headed for further upside as the US continues with its blockade of Iranian ports, while Iran does not allow any ship/tanker to pass through the Strait of Hormuz," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 per cent higher at 98.96.
Brent crude, the global oil benchmark, was trading higher by 3.16 per cent at USD 121.76 per barrel in futures trade.
On the domestic equity market front, Sensex tumbled 821.79 points to 76,674.57 in early trade, while the Nifty dived 287.3 points to 23,890.35.
Foreign Institutional Investors offloaded equities worth Rs 2,468.42 crore on Wednesday, according to exchange data.
"FPIs continue with their sale of Indian Equities and debt (the yield touched 7 per cent on Wednesday) and are also dollar buyers consistently," Bhansali added.
