Rupee drops 9 paise to hit lifetime low of 79.90 against US dollar
Mumbai(PTI): The rupee declined by 9 paise to settle at a new record low of 79.90 against the US currency on Thursday due to a firm US dollar in overseas markets and capital outflows.
A decline in crude oil prices in the international markets, however, restricted the rupee losses, forex dealers said.
At the interbank foreign exchange market, the local currency opened strong at 79.72 and witnessed an intra-day high of 79.71 and a low of 79.92 against the US dollar in the day trade.
The local unit finally settled at 79.90 a dollar, down 9 paise over its previous close.
The rupee pared its early gains as the US dollar continued to gain against a basket of leading global currencies in early European trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.37 per cent up at 108.36.
Brent crude futures, the global oil benchmark, dropped 2.20 per cent to USD 97.38 per barrel.
On the domestic equity market front, the BSE Sensex ended 98 points or 0.18 per cent lower at 53,416.15, while the broader NSE Nifty declined 28.00 points or 0.18 per cent to 15,938.65.
Foreign institutional investors were net sellers in the capital market on Thursday, as they offloaded shares worth Rs 2,839.52 crore, as per exchange data.
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Jaishankar meets European, UK, Egyptian counterparts at UAE summit
Dubai (PTI): External Affairs Minister S Jaishankar has met with his counterparts from Europe, the UK and Egypt on the sidelines of a high-level international summit in the United Arab Emirates, where leaders and policymakers gathered to discuss key geopolitical and security challenges.
In a social media post on Saturday, Jaishankar said "it was great to be" with Luxembourg's Deputy Prime Minister and Foreign Minister Xavier Bettel, Poland’s Deputy Prime Minister and Foreign Minister Radoslaw Sikorski, and Latvia’s Foreign Minister Baiba Braze.
The minister was in the UAE capital Abu Dhabi to attend the three-day Sir Bani Yas Forum 2025, which concluded on Sunday.
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Jaishankar also met UK Deputy Prime Minister David Lammy on the sidelines of the summit.
"Good to see UK DPM @DavidLammy on the sidelines of Sir Bani Yas Forum 2025," he said in another social media post.
In another meeting, the External Affairs Minister said it was “nice to catch up” with Egypt’s Foreign Minister Dr Badr Abdelatty.
Sir Bani Yas Forum is an annual platform that brings together global leaders, ministers and experts to deliberate on regional and international issues.
