Rupee falls 9 paise to settle at all-time low of 83.22 against US dollar
New Delhi (PTI): The rupee depreciated for the fourth straight day and settled 9 paise lower at its lifetime low of 83.22 (provisional) against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.
Positive trend in the domestic equity markets, however, provided a cushion to the rupee, according to forex traders.
Crude oil breached the USD 90 per barrel-mark after oil producing countries agreed to extend supply cut till December this year while dollar stayed firm on safe-haven demand.
At the interbank foreign exchange, the domestic unit opened at 83.15 against the dollar and traded in the range of 83.12 to 83.22 against the greenback. It ended at the lowest level of 83.22 (provisional) against the dollar, registering a fall of 9 paise from its previous close.
On Wednesday, the rupee settled 9 paise lower at 83.13 against the dollar. Earlier, the Indian currency had closed at the same level of 83.13 on August 21.
The domestic unit has declined 60 paise since Monday when it had closed 9 paise lower at 82.71 against the greenback. On Tuesday, the unit had plunged 33 paise, the sharpest fall this week.
"We expect rupee to trade with a negative bias on strong dollar and elevated crude oil prices. Disappointing European data may further support dollar. Rising US treasury yields and concerns over global economic growth may also weigh on rupee," Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas, said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.09 per cent to 104.95.
Brent crude futures, the global oil benchmark, was trading 0.39 per cent lower at USD 90.25 per barrel.
On the domestic equity market front, the BSE Sensex closed 385.04 points or 0.58 per cent higher at 66,265.56 points while the broader Nifty jumped 116 points or 0.59 per cent to end at 19,727.05 points.
Foreign Institutional Investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 3,245.86 crore, according to exchange data. PTI HVA.
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Bengaluru (PTI): Karnataka Minister Priyank Kharge met a high-level delegation from Chile, led by Chilean Foreign Minister Francisco Pérez Mackenna, at Vidhana Soudha on Thursday to discuss collaboration in emerging technologies, clean energy, and startup ecosystems, officials said.
The delegation’s visit to Bengaluru, as part of its India engagements, underscores Karnataka’s growing prominence as a preferred partner for global collaborations in technology, innovation, and startup ecosystems, officials added.
The discussions reflected strong alignment between Chile’s evolving technology-focused growth strategy and Karnataka’s established leadership in innovation and deep-tech ecosystems, according to a statement.
Both sides explored opportunities to build partnerships that move beyond traditional sectors and focus on innovation-led growth, talent exchange, and market access.
The meeting focused on opportunities in renewable energy, including green hydrogen and sustainable industrial innovation.
Other potential areas of collaboration included marine biotechnology, aquaculture technologies, and AI applications across traditional industries.
According to the state IT minister, Karnataka is now a global hub for deep-tech, AI, biotech, aerospace, and advanced research, backed by one of the world’s strongest talent pipelines.
“As partners under the global innovation alliance, we must move beyond agreements on paper to actionable collaboration,” Kharge said.
“We are keen to work with Chile on startup exchanges, market access programmes, and building joint innovation corridors, including R&D centres, incubators, and accelerators. Chile’s position as a gateway to Latin America presents a significant opportunity for our startups to scale globally,” he added.
Officials said the engagement builds on the Letter of Intent signed between the Government of Karnataka and the Government of Chile during the Bengaluru Tech Summit, which established a framework for collaboration in startups, emerging technologies, research, and skill development under the Global Innovation Alliance.
Mackenna, Chile’s Minister of Foreign Affairs, said the country is actively advancing its transition toward a knowledge- and technology-driven economy.
“Our engagement with Karnataka reflects our interest in building strong innovation partnerships that enable technology exchange, talent collaboration, and access to dynamic startup ecosystems,” he added.
“We see significant potential to work together in sectors such as clean energy, digital technologies, and emerging industries, while also strengthening Chile’s role as a bridge between India and Latin America,” he said.
