Nepal Army chief leaves for Delhi to attend Indo-Pacific Armies Chiefs' Conference
Kathmandu (PTI): Nepal Army chief Gen. Prabhuram Sharma left for New Delhi on Sunday to attend the 13th Indo-Pacific Armies Chiefs' Conference (IPACC) being held in the Indian capital from September 25 to 27.
The Indian Army will host the two-day conference of Army chiefs of the Indo-Pacific nations with an aim to evolve a common strategy to ensure peace, prosperity and stability against the backdrop of growing global concerns over China's increasing military muscle-flexing in the region.
Fifteen Army chiefs and delegations from 22 countries will attend the event, officials here said. The US Army is co-hosting the conference.
According to the Nepal Army, the Indo-Pacific Armies Chiefs' Conclave will deliberate on the role of military diplomacy in mitigating various crises, ways to enhance collaboration among the armed forces of the region and boosting interoperability.
Gen. Sharma will return to Kathmandu on September 28 after winding up the visit.
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.
Rupee hits record intra-day low in early trade, falls 12 paise to 92.37 against US dollar
Mumbai (PTI): The rupee slumped 12 paise to its record low of 92.37 against the US dollar in early trade on Friday as global crude oil prices showed no signs of easing amid the ongoing West Asian conflict.
A stronger greenback, heavy FII selling and weak sentiments in the domestic equity markets further weighed on the rupee, according to forex traders.
At the interbank foreign exchange, the local unit opened at 92.33 and slipped further to hit its record intra-day low of 92.37 against the US dollar, down 12 paise from its previous close.
ALSO READ: PM Modi speaks to Iranian president, discusses 'serious' situation in West Asia
The rupee touched a fresh intra-day low of 92.36 on Thursday and closed the session 24 paise down at its lowest level of 92.25 against the US dollar.
"Oil prices remained elevated after Iran said the Strait of Hormuz is closed permanently till the resolution of the crisis. The dollar index also rose, European and Asian currencies all fell against the dollar," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The rupee has remained vulnerable and in the absence of the RBI could have reached 93.00 levels, he added.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 99.77.
Brent crude, the global oil benchmark, was trading higher by 4.99 per cent at USD 96.57 per barrel in futures trade.
On the domestic equity market front, the Sensex plunged 560.06 points, or 0.74 per cent, to 75,474.36, while the Nifty tanked 184.45 points, or 0.78 per cent, to 23,454.70.
Foreign institutional investors sold equities worth Rs 7,049.87 crore on a net basis on Thursday, according to exchange data.
Meanwhile, retail inflation moved up to 3.21 per cent in February compared to 2.74 per cent in the preceding month, driven mainly by higher food prices, government data released on Thursday showed.
