Zameer Ahmed Khan speaks regarding CM Kumaraswamy after becoming minister
Bengaluru: Former CM Siddaramaiah, Parameshwara and Venugopal trusted me and gave me the ministership. My responsibility on the party is now even higher, said new minister Zamir Ahmed Khan.
Speaking to reporters after swearing-in as a cabinet minister at the Glass House in Rajbhavan on Wednesday, he said, "I did not wish to become a minister. However, now I will handle any ministership given to me."
I am not working with Chief Minister HD Kumaraswamy newly. I worked with him even In 2006 when he was the chief minister. Kumaraswamy is a man who works with cooperation and takes everyone along with him. And now also he would continue by taking all into confidence.
It is true that some people are unhappy after missing ministerial berth. Roshan Baig was the minister in the previous government. But this time, to allow newcomers and new faces, High Command has given me the opportunity.
Speaking at the occasion, new minister Shivananda Patil said, "I work honestly to do something new to the state. I will work prominently and accept whatever post the government gives me.
Dr. Jayamala, who sworn-in as the only woman minister in the Congress- JD(S) coalition government, said "I was not an aspirant of ministership. However; party chiefs, Siddaramaiah and Parameshwara have trusted me and given responsibility. I will work cautiously and honestly without bringing any stigma on the government.
The new minister UT Khader said, "It is my pleasure to get another opportunity to serve the people of the state as a minister. Thanks to the people of the constituency, the state, and the national leaders. We all must be committed to the party orders. Those who work and sacrifice for the party would get an honor. There is no disagreement within our party. Senior leaders are in touch with the party high command continuously and engaged in discussion.
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Rupee strengthens past 90/USD level in early trade
Mumbai (PTI): The rupee appreciated 24 paise to 89.96 against the US dollar in early trade on Friday, supported by corporate dollar inflows and easing crude oil prices.
Forex traders said the gain in the USD/INR pair follows the rupee’s string of record lows in recent weeks on likely intervention from the Reserve Bank of India.
Moreover, crude oil prices hovering around USD 59 per barrel level supported market sentiment.
ALSO READ:Rupee trades in narrow range against US dollar in early trade
At the interbank foreign exchange market, the rupee opened at 90.19 against the US dollar, then gained some ground and touched 89.96 against the US dollar, registering a gain of 24 paise over its previous close.
In initial trade it also touched 90.22 against the American currency. On Thursday, the rupee appreciated 18 paise against the US dollar to close at 90.20 against the greenback.
The rupee sank to a fresh record low, breaching the 91-a-dollar mark for the first time on Tuesday.
"Since the speculators are out of the market the buying of US dollar syndrome has come down a bit though intra-day we could see spikes," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
The US CPI came lower than expected but was also due to non-collection of sufficient data and therefore, the next month’s CPI becomes more important, Bhansali said, adding that "Rupee remains in a range of 90-90.50".
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 98.46.
Brent crude, the global oil benchmark, was trading lower by 0.27 per cent at USD 59.66 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex climbed 375.98 points to 84,857.79, while the Nifty was up 110.60 points to 25,934.15.
Foreign Institutional Investors purchased equities worth Rs 595.78 crore on Thursday, according to exchange data.
Meanwhile, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal on Thursday said he is not concerned about the rupee at all, arguing that even China and Japan witnessed exchange rate weaknesses during their high growth phases.
Speaking at 'Times Network's India Economic Conclave 2025', Sanyal said since the 90s, the rupee has mostly been allowed to find its own level, but the RBI uses its reserves to intervene in either direction to stop excessive volatility.
"I am not concerned about the rupee at all... Let me say that the rupee and its current weakness should not be necessarily conflated with some economic worry, because historically, if you go over time, you will see that economies that are in their high growth phase very often go through a phase of exchange rate weakness," he said.
