Rupee hits fresh record low of 70.81
Mumbai, Aug 30 : The Indian rupee plunged to a fresh record low of 70.81 to a US dollar during the morning trade session on Thursday.
Around 10.00 a.m. the Indian rupee was pegged at 70.68 after it touched 70.81 to a US dollar -- the lowest ever mark -- against the greenback.
It opened the day's trade at the Interbank foreign exchange market at 70.58 to a US dollar and soon surpassed its record low of 70.65 to a greenback on Wednesday.
According to analysts, continuous outflow of foreign funds, along with caution ahead of key macro-economic data, coupled with volatile global crude oil prices pulled the Indian rupee to a fresh low.
"Importers month-end US dollar demand and high crude oil prices have pulled the rupee lower," Anand Rathi Shares and Stock Brokers research analyst Rushabh Maru told IANS.
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Quarrying conducted on government sites in Shirva, Karkala; Police file case against two
Karkala: In two separate cases of raids on government land in the taluk, Karkala police have registered cases against two men for allegedly carrying out illegal quarrying on government-owned sites.
Sub-inspector Lohith Kumar C.S. of Shirva Police Station conducted a raid on government land in Survey No. 181/1, Jarkala, in the taluk. The police team, including the SI and personnel Kishore and Anwar Ali, found two individuals working at the site; however, the men reportedly fled upon seeing the police vehicle. The site was confirmed to be used for illegal quarrying.
During the investigation, police found that one Surendra had been conducting quarrying activities on the site for an extended period. The team seized two iron crowbars, one iron rod with a wooden handle, two iron rods, and one iron chain from the spot.
A case has been registered against Surendra under Section 303(2) of the Bharatiya Nyaya Sanhita (BNS) and Sections 4(1-a) and 21(4) of the Mines and Minerals (Development and Regulation) Act, 1957.
In the second case, Karkala Town Police SI Shivakumar S.R. led a raid on a site in Survey No. 245 in Eralpadi village of Jarkala, following a tip-off about illegal quarrying. Although no workers were present during the raid, the investigation revealed that a person named Ramesh had been conducting quarrying at the site without permits and for personal gain.
Karkala Town Police have registered a case against Ramesh and are continuing their investigation.
