Andhra Pradesh government buys 19 new SUVs for CM's convoys
Amaravati (PTI): The Andhra Pradesh government has purchased 19 new SUVs for use by Chief Minister Y S Jagan Mohan Reddy, official sources said.
Of the 19 Toyota Fortuner vehicles, four will be made bullet-proof and two more will be fitted with jammers as part of the VIP security measures, sources in the Intelligence Security Wing said.
With many ministers claiming that Reddy would soon start functioning from the port city of Visakhapatnam which the YSR Congress government wants to make the Executive Capital of the state half of the newly-procured fleet would be stationed there for the Chief Minister's use, the sources said.
A new fleet of seven convoy vehicles for the Chief Minister was purchased in mid-2019 after Reddy assumed power.
"These vehicles are in a fit condition as they have not been used much. But, with the Chief Minister likely to shift his base to Visakhapatnam, we need another set of vehicles. Accordingly, the new vehicles have been bought," a senior security official said.
One set would be stationed in Amaravati.
The Chief Minister's convoy normally has two bullet-proof vehicles and a jammer.
As the new fleet will be split into two sets, four BP vehicles and two jammers are being readied.
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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.
