Standing firmly with armed forces; time for unity, solidarity: Congress
New Delhi(PTI): This is a time for unity and solidarity and the Congress is standing firmly with the armed forces, the party said on Wednesday as Indian armed forces carried out missile strikes on terror targets in Pakistan and Pakistan-Occupied Kashmir.
Congress general secretary in-charge communications Jairam Ramesh said India's commitment to eliminating all sources of terrorism in Pakistan and PoK has necessarily to be uncompromising and always be anchored in the supreme national interest.
"This is a time for unity and solidarity. Right from the night of April 22nd, the Congress has been categorically stating that the government will have our fullest support in the nation's response to the Pahalgam terror attack," he said.
"The Congress is standing firmly with our armed forces," Ramesh said on X, using the hashtag "Operation Sindoor".
In retaliation for the Pahalgam terror attack, Indian armed forces carried out missile strikes early Wednesday on nine terror targets in Pakistan and Pakistan-Occupied Kashmir, including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba's base Muridke.
The military strikes were carried out under Operation Sindoor two weeks after the massacre of 26 civilians in Jammu and Kashmir's Pahalgam.
"A little while ago, the Indian armed forces launched 'Operation Sindoor' hitting terrorist infrastructure in Pakistan and Pakistan-occupied Jammu and Kashmir from where terrorist attacks against India have been planned and directed," the defence ministry said in a statement at 1.44 am.
It said the actions by the Indian armed forces have been "focused, measured and non-escalatory" in nature and that no Pakistani military facilities have been targeted.
"प्रहाराय सन्निहिताः, जयाय प्रशिक्षिताः"
— ADG PI - INDIAN ARMY (@adgpi) May 6, 2025
Ready to Strike, Trained to Win.#IndianArmy pic.twitter.com/M9CA9dv1Xx
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Rupee falls 20 paise to 95.43 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 20 paise to 95.43 against US dollar in early trade on Tuesday as market sentiments remained fragile after renewed military exchanges between US and Iranian forces in the Gulf region.
Forex traders said investor anxiety due to instability in the Gulf is causing massive capital flight into safe-haven assets, with the US dollar acting as the primary beneficiary.
Moreover, Brent oil prices is hovering near USD 113 per barrel, maintaining pressure on oil-importing economies like India.
At the interbank foreign exchange market the rupee opened at 95.30 then lost ground to touch 95.43 against the US dollar, in initial trade, registering a fall of 20 paise over its previous close.
Rupee fell 39 paise to close at an all-time low of 95.23 against the US dollar on Monday.
"With oil boiling rupee on Monday fell to a closing low of 95.0875 and this morning the opening was still lower as it becomes more and more vulnerable when dollar index rises due to safe-haven buying and oil prices rise due to the continuous fighting in the Gulf Region," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The higher oil prices will keep rupee sold off against the dollar as oil companies and FPIs intensify dollar buying, Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.51, up 0.15 per cent.
Brent crude, the global oil benchmark, was trading lower by 1.07 per cent at USD 113.22 per barrel in futures trade.
"Market sentiments remained fragile after renewed military exchanges between US and Iranian forces when Iranian forces launched fresh attacks in the Gulf as both sides sought to assert control over the strategic waterway," Bhansali said.
On the domestic equity market front, Sensex declined 361.62 points to 76,907.78 in early trade, while the Nifty dropped 134.90 points to 23,980.60.
Foreign Institutional Investors purchased equities worth Rs 2,835.62 crore on Monday, according to exchange data.
