Rupee falls 1 paisa to 85.92 against US dollar in early trade
Mumbai (PTI): The rupee slipped 1 paisa to its record low of 85.92 against the US dollar in early trade on Thursday, the third straight session of downfall, weighed down by a stronger American currency and higher crude oil prices.
Forex traders said the relentless outflow of foreign funds amid soaring US bond yields boosted the American currency, while subdued domestic equity markets pushed the rupee down further.
At the interbank foreign exchange, the rupee opened at its historic low level of 85.94 and inched up to 85.92 against the greenback in initial deals, trading with a loss of 1 paisa from its previous close.
On Wednesday, the rupee plunged 17 paise to settle at its all-time low closing level of 85.91 against the dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent lower but stayed elevated at 108.80.
The 10-year US bond yields also remained elevated at 4.66 per cent amid expectations of delayed interest rate cuts by the Federal Reserve on better growth prospects of the world's largest economy.
Brent crude, the global oil benchmark, fell 0.10 per cent to USD 76.08 per barrel in futures trade.
In the domestic equity market, the 30-share BSE Sensex was trading 243.43 points, or 0.31 per cent, lower at 77,905.06 points, while the Nifty was down 72.40 points, or 0.31 per cent, at 23,616.55 points.
Foreign institutional investors (FIIs) offloaded Rs 3,362.18 crore in the capital markets on a net basis on Wednesday, according to exchange data.
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Passing out parade held at IMA Dehradun, 491 young officers join Indian Army
Dehradun(PTI): After undergoing rigorous training at the Indian Military Academy (IMA) in Dehradun, 491 cadets participated in a grand Passing Out Parade on Saturday and will now be commissioned as officers in the Indian Army.
The spectacular parade, held at the historic Drill Square in front of the academy's Chatwood Building, was reviewed by Army Chief General Upendra Dwivedi, who served as the reviewing officer.
Along with 491 Indian cadets, 34 foreign cadets from 14 friendly countries also participated in the Autumn Term 2025 Passing Out Parade.
A total of 525 officer cadets from the 157th Regular Course, 46th Technical Entry Scheme, 140th Technical Graduate Course, 55th Special Commissioned Officers Course, and Territorial Army Online Entrance Exam 2023 Course participated in the Passing Out Parade.
The 'Sword of Honour' and gold medal for securing first place during training was awarded to ACA Nishkal Dwivedi, the silver medal to BUO Badal Yadav for second place, and the bronze medal to SUO Kamaljeet Singh for third place.
The silver medal for securing first place in the 'Technical Graduate Course' was awarded to Officer Cadet Jadhav Sujit Sampat, and the silver medal for first place in the 'Technical Entry Scheme-46' was awarded to WCC Abhinav Mehrotra.
The silver medal for the 'Special Commission Officer Course' was given to Officer Cadet Sunil Kumar Chhetri.
Among the foreign cadets, the first place in merit was secured by JUO Mohammad Safin Ashraf from Bangladesh. The Army Chief's Banner for overall best performance in the Autumn Term was awarded to Imphal Company.
As the parade concluded, helicopters showered flowers on the newly commissioned officers from the sky.
On this occasion, General Dwivedi congratulated the new officers in his address for successfully completing their training. He praised the young officers for their high level of discipline, leadership qualities, and endurance, and urged them to uphold the glorious traditions of the Indian Army and serve the nation with loyalty, commitment, and honour.
General Dwivedi said that joining the army marks the beginning of a lifelong duty and selfless service.
The parents and guardians of the newly commissioned officers were also present during the passing out parade.
