Rupee drops 44 paise to hit new low of 73.77 against USD

Vartha Bharati | 04-10-2018 | 09:59:00 IST

Mumbai, Oct 4 : The rupee collapsed to a fresh low of 73.77 against the US dollar Thursday, as global oil prices continued to rise, deepening concerns about the current account deficit and capital outflows.

Consistent dollar demand from importers, mainly oil refiners, following higher crude oil prices, kept the rupee under pressure.

Meanwhile, state-owned oil marketing companies have been allowed to raise USD 10 billion from overseas market to meet their working capital needs.

At the interbank foreign exchange, the rupee opened lower and slipped further to a fresh low of 73.77 a dollar against 73.34, a fall of 43 paise.

The domestic currency closed at a record low of 73.34, down by 43 paise or 0.59 per cent on Wednesday. The international benchmark Brent crude breached the US 86 per barrel level, near its four-year high.

The benchmark Sensex plunged by 527.94 points, or 1.39 per cent, to 35,447.69 in morning deals.

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PM Modi congratulates Péter Magyar on his victory in Hungary's parliamentary polls

13-04-2026 ¦ 13-04-2026 IST

Photo Credit: ANI

New Delhi (PTI): Prime Minister Narendra Modi on Monday congratulated Péter Magyar on his resounding victory in the parliamentary elections in Hungary and said he was looking forward to working closely with him to further strengthen the bilateral cooperation and advance the vital India-EU Strategic Partnership.

Péter Magyar, leader of the centre-right opposition Tisza party, defeated incumbent Hungarian Prime Minister Viktor Orbán in the election on Sunday.

"Heartiest congratulations to Mr. Péter Magyar and the Tisza Party on your resounding election victory," Modi said in a post on X.

The PM said India and Hungary are bound by a deep-rooted friendship, shared values and enduring mutual respect.

"I look forward to working closely with you to further strengthen our bilateral cooperation and to advance the vital India-EU Strategic Partnership for the shared prosperity and well-being of our peoples," he said.