Depression over Arabian Sea intensifies into Cyclone Tauktae, to cross Guj coast around May 18: IMD
New Delhi: The deep depression over the Arabian Sea has intensified into cyclonic storm Tauktae and is likely to cross the Gujarat coast between Porbandar and Naliya around May 18, the India Meteorological Department (IMD) said on Saturday.
It said Tauktae will be a very severe cyclonic storm from May 16-18.
In a bulletin released at 1:45 PM, the IMD said, "It (Tauktae) is very likely to intensify further into a severe cyclonic storm during the next six hours and into a very severe cyclonic storm during the subsequent 12 hours. It is very likely to move north-northwestwards and cross the Gujarat coast between Porbandar and Naliya around 18th May afternoon/evening."
Both the Centre and states have been gearing up to deal with the cyclone that has been building up over the Arabian Sea for days now.
Later in the day, Prime Minister Narendra Modi will hold an important meeting to review preparations to deal with the impending Cyclone Tauktae, according to government sources.
The National Disaster Response Force has increased from 53 to 100 the number of teams earmarked to undertake relief and rescue measures in the aftermath of the cyclone.
The Central Water Commission has also issued a moderate to high risk alert over watersheds in central and northern parts of Kerala, adjoining south coastal and south interior Karnataka.
The government machinery in Goa has put in place necessary measures to tackle the situation in view of the warning about Cyclone Tauktae.
According to the IMD, Konkan and Goa are expected to receive heavy to very heavy rainfall on May 15 and 16. The Goa Fire and Emergency Services said it has kept its personnel ready to tackle the situation.
Maharashtra Chief Minister Uddhav Thackeray has directed the authorities in coastal districts of the state to remain alert and well-equipped to tackle the situation.
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Rupee crashes 46 paise to 92.28 against US dollar in early trade, nears all-time low
Mumbai (PTI): The rupee plummeted 46 paise to near its all-time intra-day low of 92.28 against the US dollar in early trade on Monday as global crude oil prices shot up and the greenback strengthened amid the worsening situation in the Middle East.
Brent crude, the global oil benchmark, was trading higher by a staggering 25.68 per cent at USD 116.5 per barrel in futures trade as the war between US-Israel and Iran intensified.
A big surge in FII outflows and a crash at the domestic equity market in morning trade put further pressure in the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 92.22 against the US dollar before declining further to 92.28, down 46 paise from its previous close. The rupee had hit an all-time intra-day low of 92.35 on March 4.
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The rupee depreciated 18 paise against the US dollar on Friday to close at 91.82 against the American currency.
"The rupee will remain vulnerable to the rising oil prices which have risen by more than 28 per cent since the last closure on Friday. Asian currencies were also lower on Monday," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
Rupee might touch 93.00 if oil remains above USD 100 in the coming trading sessions, he added.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.66 per cent higher at 99.64.
On the domestic equity market front, the Sensex crashed 2,345.89 points to 76,573.01 in early trade, while Nifty tumbled 708.75 points to 23,741.70.
Foreign institutional investors sold equities worth Rs 6,030.38 crore on a net basis on Friday, according to exchange data.
Meanwhile, India's forex reserves jumped USD 4.885 billion to an all-time high of USD 728.494 billion during the week ended February 27, the Reserve Bank said on Friday.
