IAF to hold 2-day wargame along frontier with Pakistan: NOTAM issued
New Delhi, May 6 (PTI): The Indian Air Force will carry out a two-day mega military exercise along the border with Pakistan from Wednesday that will involve all the frontline fighter jets including Rafale, Su-30 and Jaguar aircraft, sources in the defence establishment said on Tuesday.
The exercise is taking place amid heightened tensions between India and Pakistan over the April 22 Pahalgam terror attack that killed 26 people.
India's civil aviation authorities have already issued a Notice to Airmen (NOTAM) for the major air exercise that will largely take place along the southern and western section of the Indo-Pakistan border.
India's frontline fighter jets including the Rafale, Su-30 MKI, MiG-29, Mirage-2000, Tejas and AWACS (Airborne Warning and Control System) aircraft are set to feature in the exercise, the sources said.
In the course of the exercise, the IAF will simulate enemy targets on ground and in the air with deadly precision, they said.
The militaries of both India and Pakistan are on a high alert following rising tensions between the two nations.
Soon after the Pahalgam terror attack, India, citing "cross-border linkages" to the strike, promised severe punishment to those involved in it.
In a high-level meeting with the top defence brass on April 29, Prime Minister Narendra Modi said the armed forces have "complete operational freedom" to decide on the mode, targets and timing of India's response to the terror attack.
Air Chief Marshal A P Singh met Prime Minister Modi on Sunday and the Chief of Air Staff briefed him about the IAF's operational readiness.
On Saturday, Navy Chief Admiral Dinesh K Tripathi apprised the prime minister on the overall situation in the critical sea lanes in the Arabian Sea.
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Rupee falls 20 paise to 95.43 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 20 paise to 95.43 against US dollar in early trade on Tuesday as market sentiments remained fragile after renewed military exchanges between US and Iranian forces in the Gulf region.
Forex traders said investor anxiety due to instability in the Gulf is causing massive capital flight into safe-haven assets, with the US dollar acting as the primary beneficiary.
Moreover, Brent oil prices is hovering near USD 113 per barrel, maintaining pressure on oil-importing economies like India.
At the interbank foreign exchange market the rupee opened at 95.30 then lost ground to touch 95.43 against the US dollar, in initial trade, registering a fall of 20 paise over its previous close.
Rupee fell 39 paise to close at an all-time low of 95.23 against the US dollar on Monday.
"With oil boiling rupee on Monday fell to a closing low of 95.0875 and this morning the opening was still lower as it becomes more and more vulnerable when dollar index rises due to safe-haven buying and oil prices rise due to the continuous fighting in the Gulf Region," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The higher oil prices will keep rupee sold off against the dollar as oil companies and FPIs intensify dollar buying, Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.51, up 0.15 per cent.
Brent crude, the global oil benchmark, was trading lower by 1.07 per cent at USD 113.22 per barrel in futures trade.
"Market sentiments remained fragile after renewed military exchanges between US and Iranian forces when Iranian forces launched fresh attacks in the Gulf as both sides sought to assert control over the strategic waterway," Bhansali said.
On the domestic equity market front, Sensex declined 361.62 points to 76,907.78 in early trade, while the Nifty dropped 134.90 points to 23,980.60.
Foreign Institutional Investors purchased equities worth Rs 2,835.62 crore on Monday, according to exchange data.
