Rupee falls 21 paise to 91.29 against US dollar in early trade
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Mumbai (PTI): The rupee depreciated 21 paise to 91.29 against the US dollar on Monday, amid higher crude oil prices, a strong American currency and intense global volatility due to the escalated Middle East tension.
Negative equity market sentiment and massive withdrawal of foreign funds also weighed on the Indian currency, forex traders said.
At the interbank foreign exchange, the rupee opened at 91.23 and declined further to 91.29 against the greenback in initial deals, trading 21 paise down from its previous closing level.
On Friday, the rupee lost 17 paise to settle at 91.08 against the dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.22 per cent higher at 97.78.
Brent crude, the global oil benchmark, was up 3.91 per cent at 76.78 per barrel in futures trade.
Analysts said that crude prices soared after the US and Israel launched military strikes against Iran.
In the latest strike, the US and Israel forces pounded targets across Iran on Sunday, dropping massive bombs on the country's ballistic missile sites and wiping out warships. The attack was intensified after the killing of Iran's Supreme Leader Ayatollah Ali Khamenei.
Experts say that India faces the risk of a sharp increase in its import bill with the rising crude prices in the international market as the country's 85 per cent fuel requirement is met through imports.
On the domestic equity market front, the Sensex tumbled 691.47 points or 0.85 per cent to 80,595.72, while Nifty tanked 240.95 points or 0.96 per cent to 24,937.70 in early trade.
On Friday, foreign institutional investors offloaded equities worth Rs 7,536.36 crore, according to exchange data.
According to the government data released on Friday following a revamp of the GDP calculation framework, the country's economic growth has been projected at 7.6 per cent in the currency fiscal.
The latest RBI data released on Friday showed India's forex reserve dropped by USD 2.119 billion to USD 723.608 billion during the week ended February 20. The overall reserves had jumped by USD 8.663 billion to an all-time high of USD 725.727 billion in the previous reporting week.
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Shehbaz Sharif says ceasefire extends beyond Iran, including “Lebanon and elsewhere”
Islamabad: Pakistan’s Prime Minister Shehbaz Sharif has said the ceasefire agreement between Iran, the United States and their allies extends beyond the immediate conflict and includes “Lebanon and elsewhere,” adding that it is effective immediately.
In a social media post, Sharif said, “I warmly welcome the sagacious gesture extend deepest gratitude to the leadership of both the countries and invite their delegations to Islamabad on Friday, 10th April 2026, to further negotiate for a conclusive agreement to settle all disputes.”
He said both sides had shown “remarkable wisdom and understanding” and remained constructively engaged in efforts aimed at peace and stability during the high-stakes mediation process.
“We earnestly hope that the ‘Islamabad Talks’ succeed in achieving sustainable peace and wish to share more good news in coming days,” Sharif added.
With the greatest humility, I am pleased to announce that the Islamic Republic of Iran and the United States of America, along with their allies, have agreed to an immediate ceasefire everywhere including Lebanon and elsewhere, EFFECTIVE IMMEDIATELY.
— Shehbaz Sharif (@CMShehbaz) April 7, 2026
I warmly welcome the…
