Rupee tumbles 22 paise to all-time low of 83 against US dollar
Mumbai, Jan 3: The rupee pared initial gains and slumped 22 paise to close at its all-time low of 83 against the US dollar on Tuesday, pressured by a strong greenback overseas and sustained foreign fund outflows.
At the interbank foreign exchange market, the rupee opened on a positive note at 82.69 against the greenback, but pared the gains and fell to an intra-day low of 83.00.
The domestic currency finally settled at 83.00, down 22 paise over its previous close of 82.78.
The domestic currency had last closed at the 83-mark on October 19, 2021.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 1 per cent higher at 104.55.
Global oil benchmark Brent crude futures inched up 0.02 per cent to USD 85.93 per barrel.
According to Dilip Parmar, Research Analyst, HDFC Securities, the Indian rupee continued its downward drift as importers rushed for dollar buying, while the inflows remained muted as traders awaited Wednesday's Federal Open Market Committee (FOMC) meeting minutes.
Spot USD-INR has been consolidating in the narrow range of 82.40 to 82.95.
"Looking at the greenback price action against the major currencies, the chance of an upward breakout is higher in the pair. Once the breakout confirms above 83, the short-covering rally will be imminent and levels of 83.50 and 83.70 can be seen in a short span of time," Parmar added.
The 30-share BSE Sensex ended 126.41 points or 0.21 per cent higher at 61,294.20, while the broader NSE Nifty climbed 35.10 points or 0.19 per cent to 18,232.55.
Foreign Institutional Investors (FIIs) remained net sellers in the capital markets on Tuesday as they offloaded shares worth Rs 628.07 crore, according to exchange data.
Anindya Banerjee, VP - Currency Derivatives & Interest Rate Derivatives at Kotak Securities Ltd, said, "Market will be nervous going into Fed minutes tomorrow night. We expect USD-INR to trade within a range of 82.70 and 83.25."
Jateen Trivedi, VP Research Analyst at LKP Securities, said the rupee has been trading between 82.50-83.00 since mid-December 2022 and looks set for another round of weakness if it breaches 83.00.
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Will take legal course if film is stopped: Vivek Agnihotri on release of 'The Bengal Files' in WB
Kolkata, Aug 18 (PTI): Filmmaker Vivek Ranjan Agnihotri on Monday said he would go the legal route if the release of his film "The Bengal Files" is stalled in West Bengal.
The trailer launch of the film in Kolkata was disrupted on Saturday. Agnihotri claimed the event was first cancelled by a multiplex and then moved to a hotel where power supply was disrupted and police turned up asking if permission had been taken.
"We will go by the Constitution. We will go legally. If they stop us, we will take the legal course. What can we do? We are common citizens like you... We will pray that sanity prevails and the state government does not do it (stop the release)," the filmmaker said at a press conference here while hitting out at the Mamata Banerjee-led TMC government in West Bengal.
"The Bengal Files", which is slated for release on September 5, revolves around the Calcutta riots of August 16, 1946, which were triggered after the All-India Muslim League called for 'Direct Action Day' to demand a separate homeland.
"...This is an Indian film. I am telling you the truth," Agnihotri said.
Known for films such as "The Kashmir Files" and "The Tashkent Files", Agnihotri also addressed the many controversies surrounding his latest release, including an FIR by Gopal Chandra Mukherjee's grandson Santanu Mukherjee.
Gopal Mukherjee is said to have played a pivotal role in the resistance against the Muslim mob violence in 1946. Santanu claims Agnihotri's film refers to his grandfather as a butcher.
Agnihotri said Gopal Mukherjee in his film is an inspired character and not central to the plot.
"I will not go into his history. Watch Santanu's interview. I can give you all the links. There is an interview of Gopal Mukherjee on BBC. In that interview, what he has said, we have only shown that much. I have nothing to do with Gopal Mukherjee's life, politics. He was a hero and I have shown him as a hero," he said.
"I respect Gopal Mukherjee a lot. His grandsons work with TMC. There is a compulsion there... They have done it legally. We are giving a legal answer to that," he said.
Agnihotri claimed the film is his attempt to reveal hidden truths. He said he aims at showing "the untold stories of India".
"Our purpose is very clear. I make films on Hindu civilization. That is why I make films on Hindu history. I do not consider myself capable of making films on Islamic history or Christian history," he said, adding that filmmakers like Mani Ratnam and Vishal Bhardwaj have already made movies on the Islamic history of Kashmir through "Roja" and "Haider".
Agnihotri said the censor board passed "The Bengal Files" without any cuts though it went through the examining committee and then the revising committee.
"This film was made with a lot of responsibility and sincerity. No one can object to this. Bengalis will be proud of this film."
"The Bengal Files" stars Mithun Chakraborty, Saswata Chatterjee, Anupam Kher, Pallavi Joshi, Priyanshu Chatterjee and Darshan Kumar.
