Rupee tumbles 67 paise to 72.09 against US dollar in early trade
Mumbai: The rupee tumbled by 67 paise to 72.09 against the US currency in early trade on Tuesday, tracking weak opening in domestic equities amid strong dollar demand from banks and importers.
Forex traders said the US tariffs on imports from China took effect on Sunday and were followed later by Beijing's retaliation. Following this the domestic currency was under pressure.
The rupee had appreciated by 38 paise to close at a two-week high of 71.42 against the US dollar on Friday led by a rally in domestic equities and renewed hopes of the US-China trade talks. The forex market was closed on Monday on account of Ganesh Chaturthi.
At the interbank foreign exchange, the rupee opened at 72.00 then fell to 72.09 against the US dollar, showing a decline of 67 paise over its previous closing. The Indian rupee on Friday had closed at 71.42 against the US dollar.
Traders said strengthening of the greenback vis-a-vis other currencies overseas and weak opening in domestic equities weighed on the local unit. Foreign institutional investors (FIIs) remained net buyers in the capital market, putting in Rs 1,162.95 crore on Friday, provisional data with the exchanges showed.
The 30-share index was trading 371.23 points or 0.99 per cent lower at 36,961.56 and the broader Nifty fell 136.90 points or 1.24 per cent to 10,886.35.
The dollar index, which gauges the greenback's strength against a basket of six currencies, inched up 0.37 per cent to 99.28. Brent crude futures, the global oil benchmark, eased marginally by 0.02 per cent to USD 58.65 per barrel.
The 10-year government bond yield was at 6.52 per cent in morning trade.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Vice president releases latest edition of Constitution in Sindhi
New Delhi (PTI): Vice President C P Radhakrishnan on Friday released the latest edition of the Constitution in Sindhi language, in both Devanagari and Persian scripts here.
Addressing a gathering, the vice president extended greetings to the Sindhi-speaking community on the occasion of Sindhi Bhasha Diwas.
He described Sindhi as one of the oldest and most melodious languages, noting that its literary tradition reflects a unique confluence of Vedantic philosophy and Sufi thought, promoting universal values of oneness, love, and brotherhood.
Highlighting the significance of the occasion, he said that the release of the Constitution in Sindhi, particularly in the Devanagari script for the first time since Independence, marks an important milestone in promoting linguistic inclusivity.
He emphasised that the Constitution is not merely a legal document but the living spirit of the nation, embodying its aspirations, safeguarding rights, and guiding democratic governance.
He observed that India stands unique in making its Constitution available in a wide range of languages and recalled similar initiatives undertaken in recent years, including translations in Bodo, Dogri, Santhali, Tamil, Gujarati, and Nepali. These efforts, he said, celebrate India’s linguistic diversity and reinforce democratic values.
