Rupee falls 8 paise to close at 88.79 against US dollar
Mumbai (PTI): The rupee depreciated 8 paise to close at 88.79 against the US dollar on Friday, near its all-time low level, on dollar demand from importers and persistent foreign fund outflows.
Forex traders said the USD/INR pair is hovering around its all-time low level, weighed down by trade tensions and global uncertainties.
Moreover, persistent foreign fund outflows and the ongoing US visa fee hike issue also dragged down the domestic unit.
At the interbank foreign exchange, the rupee opened at 88.68 against the US dollar and touched an intraday low of 88.85 and finally settled for the day at 88.790, lower by 8 paise from its previous close.
On Wednesday, the rupee recovered 9 paise from its all-time closing low to settle at 88.71 against US dollar.
On Thursday, equity, forex, bullion and commodity markets were closed on account of Gandhi Jayanti and Dussehra.
On September 30, the rupee had fallen to an all-time low of 88.80 against the US dollar.
"The Indian currency steadied within a tight range over the past few days, having suffered a historic low earlier in the week. The underlying mood for the rupee remains down due to sustained capital outflow from foreign investors. Nevertheless, a rebound in local share markets and moderation in crude oil prices to lend some stability," Dilip Parmar, Senior Research Analyst, HDFC Securities, said.
"We expect the rupee to strengthen amid broad weakness in the US dollar and weakness in global crude oil prices. However, importer demand for dollar may cap sharp upside," said Anuj Choudhary, Research Analyst Currency and commodities Mirae Asset ShareKhan.
Choudhary further noted that the US dollar may weaken amid lack of economic data from the US amid the government shutdown. USDINR spot price is expected to trade in a range of 88.40 to 89.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 97.78, lower by 0.06 per cent, amid US government shutdown.
Brent crude, the global oil benchmark, was trading 1.03 per cent higher at USD 64.77 per barrel in futures trade.
On the domestic equity market front, the Sensex climbed 223.86 points to settle at 81,207.17, while the Nifty settled up 57.95 points at 24,894.25.
Foreign institutional investors offloaded equities worth Rs 1,583.37 crore on a net basis on Friday, according to exchange data.
Meanwhile, the Reserve Bank of India (RBI) left its key interest rates unchanged on Wednesday, as it waited for greater clarity on the impact of US tariffs as well as playout of earlier rate cuts and recent tax reductions.
RBI Governor Sanjay Malhotra, however, signalled scope for easing in the coming months to support the economy from any possible hit from US tariffs.
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Madhu Kishwar booked over misleading content on social media
Chandigarh (PTI): Madhu Kishwar has been booked following a complaint by a Chandigarh resident over the alleged circulation of forged and misleading content on social media.
An FIR has been lodged against Kishwar and some other social media users under relevant sections, including 196 (criminalises acts that promote enmity, hatred, or ill-will between groups based on religion, race, language), 336 (1) (forgery) and 356 (criminal defamation) of Bharatiya Nyaya Sanhita and the IT Act at Police Station Sector-26 here.
According to an official statement issued by the Chandigarh police on Monday, a city-based complainant on April 19 alleged that some forged and misleading social media posts and video clips with obscene text and content were being circulated by various social media users, misidentifying the person in the video.
Further investigation into the matter is underway.
As per the complainant, it is a deliberate act of creating a false electronic record using obscene words and phrases, having knowledge and sufficient reason to believe that the posts are misleading and false, with the intent to cause damage or injury.
The video, which circulated with the intent to cause harm to the reputation of a constitutional authority and to disturb public peace and tranquility, should be investigated, and appropriate action should be taken, according to the complainant.
As per the complainant, the person seen in the video is a travel vlogger whose wife regularly posts updates about their activities on social media. The original video was shared from her social media account.
"As per the statement of the woman, she disclosed that the person in the video shared from her account is her husband. Statements of her husband and another lady in the video have also been recorded during preliminary investigation," said police in the statement.
Meanwhile, Kishwar, in a social media post, said a team of Chandigarh police had visited her late Monday night to serve her notice regarding the FIR registered against her.
"Since the law forbids the police to visit or arrest women after dark and before sunrise, I spoke on phone to the leader of the delegation. She told me that their team has come to serve notice regarding an FIR registered against me in Chandigarh. I insisted that they go by the law and come in the morning," she wrote on X.
