Rupee rises 9 paise to 87.79 against US dollar in early trade
Mumbai (PTI): The rupee rose 9 paise to 87.79 against the dollar in early trade on Friday, bolstered by a drop in global crude oil prices and optimism around an India-US trade deal.
However, FII outflows prevented sharper gains, forex traders said.
At the interbank foreign exchange, the rupee opened at 87.78 against the US dollar before dropping marginally to 87.79, down 9 paise from its previous close.
The rupee appreciated 5 paise to close at 87.88 against the US dollar on Thursday.
"The Reserve Bank of India was again present at 87.95 yesterday (Thursday), ensuring that the rupee does not cross 88.00 level and the rupee closed with optimism of a US-India trade deal at its peak. Global sentiment remains mixed as oil prices move higher," Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP, said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.08 per cent higher at 99.01.
Brent crude, the global oil benchmark, was trading lower by 0.55 per cent at USD 65.63 per barrel in futures trade.
"After gaining more than 5 per cent on Thursday due to US sanctions on two Russian oil companies exports (which account for over 5 per cent of the total world oil output), Brent oil prices were stable at USD 65.63 per barrel and set for its biggest weekly gain since June 2025. Prices are higher by 7 per cent on a weekly basis, reflecting one of the most significant weekly rebounds in about 4 months," Bhansali added.
On the domestic equity market front, Sensex declined 153.18 points to 84,403.22 in early trade while the Nifty was down 51.1 points to 25,840.30.
Foreign Institutional Investors sold equities worth Rs 1,165.94 crore on Thursday, according to exchange data.
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Karnataka CM blames BJP over job vacancy backlog as Dharwad protests intensify
Bengaluru (PTI): As protests by government job aspirants intensified in Dharwad, with many taken into preventive custody, Karnataka Chief Minister Siddaramaiah on Tuesday blamed the previous BJP regime for the large backlog of vacant posts.
According to protesters, who staged a massive demonstration in Dharwad earlier in the day, around 2.8 lakh posts remain vacant across various government departments in Karnataka, while fewer than 5,000 recruitments have been made in the last three years.
In a press statement, Siddaramaiah said that when the Congress assumed office in 2023, over 2.64 lakh government posts were vacant.
He said the backlog was the result of “prolonged inaction under the previous BJP government, which failed to initiate timely recruitment or create a structured roadmap to fill vacancies.”
“It is deeply unfortunate that BJP leaders are choosing to mislead innocent students even now to serve their narrow political interests,” the CM said.
He alleged that, instead of encouraging aspirants to stay focused on their preparation and future, opposition leaders were “attempting to instigate unrest.”
The chief minister said the current situation was largely due to recruitment irregularities and alleged corruption during the BJP regime between 2019 and 2023, which eroded trust in the system and led to a significant backlog.
“Our government is committed to restoring credibility, transparency, and stability in the recruitment process,” he said.
Siddaramaiah added that several recruitment processes had to be temporarily stalled due to legal challenges related to internal reservation, which are under consideration in courts.
He said the government had chosen to act responsibly within the framework of law rather than rush decisions that could jeopardise the careers of thousands of candidates.
“Despite these structural and legal constraints, our government has moved with determination and integrity. In the last 2.5 years alone, more than 40,000 recruitments have been completed across departments,” he said.
Siddaramaiah said the government was conscious that many aspirants had waited for years due to delays beyond their control.
Recognising this hardship, he said the government had relaxed the upper age limit by more than five years for upcoming recruitments to ensure that deserving candidates are not excluded due to systemic delays.
“I want to assure that the process of filling the remaining vacancies is ongoing and will be further accelerated in a transparent, systematic, and time-bound manner,” he said.
On the protests, the chief minister said he had taken serious note of the situation.
“I understand the anxiety, frustration, and uncertainty that many government job aspirants are experiencing,” he said.
He reiterated that the government is taking necessary administrative and policy measures to accelerate recruitment and strengthen institutions to prevent such backlogs in the future.
The CM said the exercise was not merely about filling posts, but about rebuilding administrative capacity, restoring fairness in recruitment, and ensuring equal opportunity for all deserving candidates across regions and communities.
“I appeal to all aspirants to continue focusing on education, skill-building, and preparation with confidence and patience,” he said.
He added that the youth are the architects of the state’s future.
“Your perseverance inspires us. My government stands firmly with you, not just in words but in action. We will ensure opportunities are expanded, dreams are protected, and public service remains a noble and attainable path for every deserving young mind,” Siddaramaiah said.
