Rupee falls 9 paise to record low of 90.87 against US dollar in early trade
Mumbai (PTI): The rupee plunged 9 paise to a record low of 90.87 against the US dollar in early trade on Tuesday, weighed down by sustained FII outflows and no breakthrough in the India-US trade deal.
However, a weaker greenback and a decline in global crude oil prices capped further losses in the domestic unit, according to forex traders.
At the interbank foreign exchange, the rupee opened at its all-time low of 90.87 against the US dollar, down 9 paise from its previous close, and traded in a narrow range of 90.77- 90.87 in early trade.
ALSO READ: Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
The rupee on Monday settled at a new all-time low of 90.78 against the US dollar, registering a loss of 29 paise over its previous close, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
"The US-India trade deal still seems to be off by a distance with the Commerce Secretary saying the first phase will be signed before the end of the year and news that we are closest to the deal being signed. The uncertainty has clouded the recovery on the USD/INR pair as the rupee opened lower with dollar buying happening every day," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
Even a reduction in trade deficit on Monday could not bring about a recovery in the rupee with Foreign Institutional Investors (FII) outflows continuing, he added
According to the latest government data released on Monday, India's trade deficit narrowed to a five-month low of USD 24.53 billion in November, as exports rebounded by 19.37 per cent to a six-month high of USD 38.13 billion after contracting in October, driven by higher shipments of engineering and electronics goods.
At the same time, the country's imports dipped by 1.88 per cent to USD 62.66 billion due to a fall in the inbound shipments of gold, crude oil, coal, and coke.
FIIs sold equities worth Rs 1,468.32 crore on Monday, according to exchange data.
Also, wholesale price inflation stayed in the negative for the second consecutive month in November at (-) 0.32 per cent, even though there was an uptick in prices of food articles like pulses and vegetables on a month-on-month basis, government data showed on Monday.
Wholesale Price Index (WPI)-based inflation was at (-) 1.21 per cent in October and 2.16 per cent in November last year.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 98.27.
Brent crude, the global oil benchmark, was trading 0.61 per cent lower at USD 60.19 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index, Sensex, declined 363.92 points to 84,849.44 in early trade while the Nifty was down 106.65 points to 25,920.65.
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Indian-origin translator Padma Viswanathan shortlisted for International Booker Prize 2026
New Delhi (PTI): Padma Viswanathan, a Canadian-American writer of Indian-origin, has made it to the 2026 International Booker Prize shortlist as the English translator of a Portuguese language novella.
"On Earth As It Is Beneath" by Brazilian author Ana Paula Maia, described by judges as a "brutal, haunting and hypnotic novella set in a remote Brazilian penal colony, where the boundaries between justice and cruelty collapse", is among the six worldwide contenders for the coveted literary honour.
The annual prize worth GBP 50,000, divided equally between the author and translator, was won last year by Kannada writer-activist Banu Mushtaq and translator Deepa Bhasthi for the short story collection "Heart Lamp". Each shortlisted title guarantees a prize of GBP 5,000 -- also split 50-50 between the book’s author and English translator.
"What struck us most is how spare, unflinching, uncompromising and relentless it is. Maia builds an entire moral universe out of very little: a remote prison, a handful of men, and the rituals of punishment that govern their lives.
"The novel reads almost like a dark fable about power, where brutality is ordinary and civilisation feels frighteningly thin," the judging panel, which also include award-winning Indian novelist and columnist Nilanjana S. Roy, said of the work translated by US-based Viswanathan.
The 58-year-old professor of creative writing at the University of Arkansas-Fayetteville is an accomplished playwright and author, whose novels have been published in eight countries.
The list, announced on Tuesday, is dominated by women, with five of the six authors and four of the six translators being female. The authors and translators represent eight countries -- Brazil, Bulgaria, Canada, France, Germany, Taiwan, the UK and the United States.
"With narratives that capture moments from across the past century, these books reverberate with history. While there’s heartbreak, brutality and isolation among these stories, their lasting effect is energising," said author Natasha Brown, chair of this year’s judging panel.
The other books include "The Nights Are Quiet in Tehran" by Shida Bazyar and translated from German by Ruth Martin; "She Who Remains" by Rene Karabash and translated from Bulgarian by Izidora Angel; "The Director" by Daniel Kehlmann and translated from German by Ross Benjamin; "Taiwan Travelogue" by Yáng Shuāng-zi and translated from Taiwanese by Lin King; and "The Witch" by Marie Ndiaye and translated from French by Jordan Stump.
The announcement of the winning book will take place on May 19 at a ceremony at Tate Modern in London.
The International Booker Prize is awarded annually for a single work of fiction -- either a novel or a collection of short stories -- written in another language, translated into English and published in the UK and/or Ireland.
According to the organisers, the 2025 winner "Heart Lamp" –- the first collection of short stories to win the prize and the first translated from Kannada –- rapidly sold out in the UK in the subsequent days, with the UK publisher, And Other Stories, immediately reprinting 40,000 copies.
