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New Delhi, Aug 29 : On a day when the Indian rupee plunged to a record low of 70.65 to a US dollar, the government on Wednesday said it was expected to remain in the range of 68 to 70 during the year.

Economic Affairs Secretary Subhash Chandra Garg told the media that the depreciation in the rupee was due to some small mismatch in the demand and supply, which may go either way depending on the view taken by the operators.

He said while foreign portfolio investors took some USD nine billion from the country during the first three months of the current fiscal, net flow was at an equilibrium in July.

"This month there has been so far a positive inflow of over one billion dollars. That suggests the sentimental change about the view on rupee (and) that the current levels are fairly stable," Garg said.

"Therefore, that gives me some confidence that where we are today, there may not be much variation. So I retain the same view that between 68 to 70 is the level where the rupee would mostly remain.

"Considering fundamental supply of dollars and the demand, it should be fair to assume that that might be the level on which it will stay during the year," he added.

Earlier, after hitting an all-time low 70.65 per dollar, the rupee settled at 70.59 per dollar, depreciating by 49 paise from its previous close of 70.10 per dollar.

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Several users on ‘X’ on Thursday and Friday shared claims that LPG cylinders booked at 11:45 AM were being delivered within just two hours, prompting humorous and curious reactions online. 

Meanwhile netizens quickly responded to the sudden similar bookings by many users.

One ‘X’ user tweeted, “Booked a Bharat Gas LPG cylinder at 11:45 AM today and it was delivered at my doorstep by 1:30 PM. Without any extra cash or charges. I asked the delivery guy if there was any shortage. His reply was negative. This copy is circulating 👇.”

Another user questioned the timing, asking, “How can all book at the same time?” while a separate post wondered, “Why is everyone booking LPG at 11:45 AM?”

Many netizens joked about the posts. One wrote, “Everyone is booking LPG gas cylinders at 11:45 AM, and surprisingly it’s getting delivered in two hours. IT cell has some special gas agency. Is it LPG or Naale ka Gas?” 

One urged, “Please tell these hundreds of people to book at 11:45 AM too,” sharing a photo of people standing in ques.

“Booked an Indane Gas LPG cylinder at 11:46 AM today and it wasnt delivered at my doorstep by 2:30 PM. I asked the delivery guy, why didn't he deliver. He replied cylinders were delivered only to people who booked exactly at 11:45 AM,” wrote another. 

 

One user asked, “What was the auspicious occasion to book at 11:45 AM?” while another tweeted, “I am going to book a gas cylinder at 11:45 AM tomorrow, hope Modi Ji will deliver it by 1:30.”

“I want to ask one thing… If I book an LPG cylinder tomorrow at 11:45 AM and the gas agency is unable to deliver it by 1:30 PM, will it be free like Domino’s pizza, or will I get it at some discounted price? BJP IT Cell experts, please confirm so that I can book my LPG cylinder tomorrow exactly at 11:45 AM,” said another humorously.

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