Rupee falls 36 paise to 73.93 against dollar in early trade
Mumbai, Oct 15 : The rupee dropped 36 paise to 73.93 against the US currency in early trade Monday, breaking its three-day recovery trend, as crude prices rose amid weak macro economic data.
A spurt in dollar demand from importers amid sustained foreign fund outflows also weighed on the rupee.
Dealers said, factors like the dollar's strength against some other currencies overseas and a volatile opening of the equity markets also impacted the domestic currency.
Industrial production slipped to a three-month low of 4.3 per cent in August and retail inflation rose marginally to 3.77 per cent in September, according to the data released by Central Statistics Office Friday.
Friday, the rupee had ended 55 paise higher at 73.57 against the dollar, as global crude prices eased and domestic indices staged a smart rebound.
Foreign institutional investors (FIIs) sold shares to tune of Rs 1,322 crore Friday, provisional data showed.
The benchmark BSE Sensex fell by 70.85 points, or 0.20 per cent, to 34,662.73 in early trade after crossing the key 35,000-mark to hit a high of 35,008.65 at the outset.
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IRGC warns of retaliation after energy sites hit; Gulf nations issue Emergency Alerts
Tehran/Riyadh/Doha: Iran’s Islamic Revolutionary Guard Corps (IRGC) has issued a strong warning after attacks on its energy infrastructure, saying it will retaliate against those responsible.
A spokesperson for the IRGC’s Khatam al-Anbiya Headquarters said “the fuel, energy and gas infrastructures” of countries behind the attacks “will be burned and turned to ashes at the earliest opportunity”.
“This is a firm and clear warning to the criminals who attacked part of Iran’s fuel and energy infrastructures in the south of the country,” the statement, carried by Iran’s Mehr news agency, said.
“We declare to the cowardly and aggressive army of the criminal America and the barbaric and child-killing Zionist regime that you will have to throw your soldiers into the water and throw your dignity into the wind,” it added.
The warning comes as Gulf countries step up emergency measures amid fears of further escalation.
Saudi Arabia’s National Early Warning Platform for Emergency Cases issued alerts warning of danger in the Riyadh and al-Kharj governorates. Residents were cautioned about a possible aerial threat.
In Qatar, reports indicate that Ras Laffan, the world’s largest LNG production facility, is being evacuated. The move follows Iran’s warning that it may target energy infrastructure in Qatar, the UAE and Saudi Arabia.
Ras Laffan was previously attacked on March 2 in the early phase of the conflict, after which QatarEnergy had temporarily paused production.
Authorities have reportedly asked workers and residents in specific areas to evacuate as a precaution.
Meanwhile, reports have emerged of two loud explosions in Saudi Arabia’s capital Riyadh. Residents there have received alerts warning of a possible aerial attack.
The situation across the Gulf region remains tense as military threats and countermeasures continue to escalate.
