Rupee hits new low of 74.27, plunges 21 paise against USD
Mumbai, Oct 9 : The rupee erased all its morning gains to hit a new record low of 74.27 against the US dollar in afternoon trade Tuesday after Brent crude breached the USD 84 a barrel-mark again and the American currency strengthened overseas.
Moreover, unabated foreign fund outflows weighed on the rupee, traders said.
At the forex market, the domestic unit opened higher at 73.93 and advanced to 73.88 on fresh selling by exporters amid weakness in dollar against some currencies overseas.
However, it turned weak and slipped to trade at a fresh lifetime low of 74.27, showing a fall of 21 paise over its Monday's close of 74.06.
It broke previous record low (intra-day) of 74.23 reached on October 5. Foreign institutional investors (FIIs) sold shares net worth a net of Rs 1,805 crore Monday, provisional data showed.
Investors remained concerned over sustained foreign capital outflows and rise in crude oil price to 84.48.
Forex dealers said besides strong demand for the American currency from importers, concerns rising fiscal deficit and capital outflows weighed on the domestic currency.
Meanwhile, the BSE benchmark Sensex dropped by 87.79 points, or 0.25 per cent, to 34,386.59 during mid-session.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Air quality worsens in city, AQI settles in 'severe' zone
New Delhi (PTI): Delhi battled toxic fumes on Sunday as the air quality slipped into the 'severe category with a reading of 459, according to the Central Pollution Control Board.
A thick layer of smog blanketed the city overnight, leaving people gasping for air.
As per the CPCB, an Air Quality Index (AQI) between zero and 50 is considered 'good', 51 to 100 'satisfactory', 101 to 200 'moderate', 201 to 300 'poor', 301 to 400 'very poor' and 401 to 500 'severe'.
On the weather front, the minimum temperature settled at 8.2 degrees Celsius, 0.4 notch below the season's average, and the maximum temperature is likely to hover around 24 degrees Celsius.
The relative humidity was 100 per cent at 8.30 am, the IMD said.
In light of the deteriorating air quality in the national capital, the Delhi Directorate of Education on Saturday directed all schools to conduct classes for students up to Class IX and XI in a hybrid mode
The Commission for Air Quality Management (CAQM) has invoked Stage-IV actions under the Graded Response Action Plan (GRAP) with immediate effect to curb further worsening of air pollution levels in Delhi-NCR.
