Rupee falls 10 paise to close at 88.29 against US dollar
Mumbai (PTI): The rupee depreciated by 10 paise to close at 88.29 against the US dollar on Tuesday on weak domestic stock markets and foreign fund outflows.
Forex traders said a weak US dollar and softening of crude oil prices cushioned the downside.
Investors are also keeping a watch on the Federal Reserve’s policy decision on Wednesday for further cues.
At the interbank foreign exchange market, the rupee opened at 88.34, and later traded in a range of 88.23 to 88.40 during the day. The local unit finally settled at 88.29 against the greenback, registering a fall of 10 paise from its previous close.
On Monday, the rupee plunged 36 paise to close at 88.19 against the US dollar.
"We expect the rupee to trade with a slight negative bias on weak domestic equities and month-end dollar demand from importers. However, optimism over the trade deal between India and the US may support the rupee at lower levels," said Anuj Choudhary, Research Analyst, Currency and Commodities, Mirae Asset ShareKhan.
Choudhary further noted that investors may remain cautious ahead of the US FOMC meeting decision. USDINR spot price is expected to trade in a range of 87.90 to 88.60, he said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.09 per cent to 98.69.
Brent crude, the global oil benchmark, fell 1.74 per cent to USD 64.48 per barrel in futures trading.
On the domestic equity markets front, Sensex declined 150.68 points to settle at 84,628.16, while the Nifty dipped 29.85 points to 25,936.20.
Foreign Institutional Investors purchased equities worth Rs 10,339.80 crore on Tuesday, according to exchange data.
Meanwhile, India's crude oil imports from the United States climbed to their highest level since 2022 in October, a move seen as part of New Delhi's effort to diversify supplies away from Russia and ease trade tensions with the Trump administration.
India's crude imports from the US reached 540,000 barrels per day as of October 27 - the highest since 2022, according to data from Kpler.
October is likely to close with near 575,000 bpd, and November looks to book around 400,000-450,000 bpd, per US export data - a sharp jump from the year-to-date average of around 300,000 bpd.
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J’khand: All 7 on board air ambulance killed in crash, bodies brought to hospital for post-mortem
Ranchi (PTI): All seven persons on board an air ambulance were killed after the aircraft crashed near Simaria in Jharkhand’s Chatra district, and their bodies have been brought to a hospital for post-mortem examination, officials said on Tuesday.
The Beechcraft C90 air ambulance, operated by Redbird Airways Pvt Ltd, was en route to Delhi from Ranchi when it crashed on Monday evening in the Bariatu Panchayat area of Simaria, located deep inside a forest, killing all seven onboard, including two pilots.
"We have brought all the seven bodies for post-mortem at Sadar Hospital, Chatra. The crash is being investigated," an official told PTI.
ALSO READ: Air ambulance with 7 onboard to Delhi from Ranchi crashes in Jharkhand's Chatra
The aircraft took off from Ranchi airport at 7.11 pm and went missing around 7.30 pm. It lost contact with the air traffic control about 20 minutes after departure, he said.
Ranchi airport director Vinod Kumar said inclement weather could be a possible reason behind the crash, though the exact cause would be ascertained after a detailed probe.
Jharkhand Health Minister Irfan Ansari said the state government will conduct a probe into how permission was given to the aircraft to fly during “inclement weather”. He also said proper compensation would be given to the kin of the deceased.
Terming the crash extremely unfortunate, Minister of State for Defence Sanjay Seth said unpleasant weather could be one of the reasons, which will be determined by the probe.
In a post on X, former chief minister and BJP leader Champai Soren said he was deeply saddened.
The deceased have been identified as Captain Vivek Vikas Bhagat, Captain Savrajdeep Singh, Sanjay Kumar, Dr Vikas Kumar Gupta, Sachin Kumar Mishra, Archana Devi and Dhuru Kumar.
Meanwhile, a lingering sense of grief prevailed in Chatra district, as the near and dear ones of those killed in the crash expressed shock and disbelief.
Bajrangi Prasad, the father of deceased Dr Vikas Kumar Gupta, said he had sold all his land to make his son a doctor, who was posted at Sadar Hospital in Ranchi.
"He has a seven-year-old son... He was meritorious and had completed his MBBS from Odisha’s Cuttack," Prasad, who hails from Bihar’s Aurangabad district, said.
Family members of Sanjay Kumar (41), however, blamed the “poor” health infrastructure behind the tragedy.
"Had we given proper treatment to my brother-in-law Sanjay in Ranchi, precious lives could have been saved. I lost both both Sanjay and sister Archana Devi in the incident," Kumar said.
Chatra Deputy Commissioner Keerthishree G had earlier told PTI that the bodies of all seven deceased were retrieved from the crash site and shifted to Chatra hospital for post-mortem examination.
In a statement, the Directorate General of Civil Aviation (DGCA) said the Beechcraft C90 aircraft (VT-AJV) was operating a medical evacuation flight on the Ranchi-Delhi sector when it crashed in Kasaria Panchayat of Chatra district.
“The aircraft was airborne from Ranchi at 19:11 IST. After establishing contact with Kolkata at 19:34 IST, the aircraft lost communication and radar contact with Kolkata at approximately 100 nautical miles south-east of Varanasi,” it said, adding that there were seven people on board, including two crew members.
An Aircraft Accident Investigation Bureau (AAIB) team has been dispatched to the crash site.
According to the DGCA website, Delhi-based non-scheduled operator Redbird has six aircraft in its fleet, including the one that crashed.
Anant Sinha, CEO of Devkamal Hospital in Ranchi, told PTI that the air ambulance was arranged by one of their patients.
"The patient, Sanjay Kumar, a resident of Chandwa in Latehar district, was brought to the hospital with 65 per cent burn injuries on February 16. He was being treated in the hospital," he said.
The family members decided to take him to Delhi for better treatment, Sinha said.
"They arranged for an air ambulance on Monday. The patient left the hospital for Delhi around 4.30 pm," he said.
