Rupee drops 44 paise to hit new low of 73.77 against USD
Mumbai, Oct 4 : The rupee collapsed to a fresh low of 73.77 against the US dollar Thursday, as global oil prices continued to rise, deepening concerns about the current account deficit and capital outflows.
Consistent dollar demand from importers, mainly oil refiners, following higher crude oil prices, kept the rupee under pressure.
Meanwhile, state-owned oil marketing companies have been allowed to raise USD 10 billion from overseas market to meet their working capital needs.
At the interbank foreign exchange, the rupee opened lower and slipped further to a fresh low of 73.77 a dollar against 73.34, a fall of 43 paise.
The domestic currency closed at a record low of 73.34, down by 43 paise or 0.59 per cent on Wednesday. The international benchmark Brent crude breached the US 86 per barrel level, near its four-year high.
The benchmark Sensex plunged by 527.94 points, or 1.39 per cent, to 35,447.69 in morning deals.
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Sonia Gandhi, Rahul eyed Rs 2000 cr properties without investing a penny: BJP
New Delhi (PTI): The BJP on Friday dared Congress leaders facing corruption charges to seek a quick and time-bound disposal of cases, as it slammed the party for citing politics as the reason for the ED's action against Sonia Gandhi and Rahul Gandhi in the National Herald case.
The ruling BJP kept the heat on the opposition party following the ED's chargesheet against the Gandhis and accused chief ministers from the Congress-ruled states of ploughing public money as advertisement into the weekly newspaper which few read.
Former Union minister Anurag Thakur alleged that the Congress used the newspaper as its ATM, claiming that Gandhis sought to acquire properties worth Rs 2,000 crores of the National Herald without investing a penny from their pocket.
Both Gandhis together owned 76 per cent of the Young Indian company which was, he said, given Rs 50 lakh loan by the Congress.
The company then took over the Associated Journals Limited, which owns the newspaper affiliated to the Congress, in lieu of Rs 90 crore it owed to the opposition party, he said.
Thakur asked if a political party can give a loan.
To a question about the allegation that the ED action was politically motivated, the BJP leader dared Congress leaders facing corruption charges to move courts to seek quick and time-bound trial in the cases against them.
"If they have guts, they should do it," he said, adding that in the "Congress model of corruption" the thieves make a lot of noises.
The National Herald case, he said, has stunned the Congress ecosystem into silence.
Thakur noted Gandhis have moved courts for quashing action against them for many times since a lower court took cognizance of the matter before the Modi government came to power.
The courts gave them no relief except that they are on bail, he said, adding that the judiciary did not intervene in the Enforcement Directorate's probe.
Turning to his home state Himachal Pradesh where the Congress is in power, Thakur accused the party of not fulfilling any of its 10 main promises but spending crores of rupees in advertisement in the National Herald.
"Does any Congress leader or member read it in Himachal," he asked, demanding that people should be given details of money spent by different Congress governments in advertisements in the newspaper, which is available digitally.
The Congress has been organising protests in different parts of the country against the ED action.
