Indian rupee crashes to new low amidst US trade tariff tensions

Agencies
February 3, 2025

The Indian rupee plummeted to a historic low of 87.29 per dollar on Monday. This decline is attributed to escalating trade tariffs imposed by US President Donald Trump amid global market uncertainties.

Having already depreciated over 1.5% this year, the rupee's latest tumble is regarded as a repercussion of tariff measures enforced by the US government. The currency opened with a substantial gap-down of 43 paise, hitting a low of 87.29 before rebounding to 87.13 following a Reserve Bank of India (RBI) intervention. 

Currency expert KN Dey explained to ANI that the tariff war, ignited by the US against Canada, Mexico, and China, is responsible for the rupee's decline. KN Dey noted, "Rupee opened with a gap of 43 paisa which was one of the highest gap openings, touched a new low of 87.29, but is now trading at 87.13 due to RBI intervention."

The situation remains fluid as President Trump has also hinted at possible tariffs on BRICS nations, including India. KN Dey cautioned, "Though Trump has been threatening BRICS countries also, it remains as to when he would press the button. This could be a knee-jerk reaction on the Rupee, but it's better to wait and watch for a couple of days." 

On a broader scale, this pressure on the rupee is mirrored by a strengthening US dollar against global currencies. Monday saw the Canadian dollar and Mexican peso dip to multi-year lows and the Chinese yuan weaken to a historic low. The US government announced an imminent 25% tariff on imports from Canada and Mexico and a 10% tariff on Chinese goods.

Market analysts suggest this may be a short-term reaction, with investors advised to observe how circumstances develop. The unfolding situation is anticipated to shape market movements significantly.

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News Network
November 30,2025

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Mangaluru, Nov 30: A 22-year-old college student succumbed to her injuries at a private hospital in Mangaluru today, days after she was hit by a goods tempo while crossing a road in Padubidri.

The deceased has been identified as Preksha, a resident of Nadsalu Billitota in Padubidri. The fatal incident occurred as Preksha, who was returning home after completing her examination, attempted to cross the service road towards Mangaluru. She was struck by a goods tempo approaching from the Udupi side, causing her to fall and sustain a severe head injury.

Prompt action from local residents ensured she received immediate first aid before being rushed to a hospital in Mangaluru for specialised treatment. Despite medical efforts, she passed away while undergoing care.

Preksha was a student at Karavali College, Vamanjoor on the outskirts of Mangaluru city. The tragedy is compounded by the fact that she belonged to a financially vulnerable family, having previously lost her father. She is survived by her mother and brother.

A case related to the accident has been registered at the Padubidri police station, and an investigation is underway to determine the exact circumstances that led to the collision. The incident highlights the growing concerns over road safety, particularly on busy service roads, and serves as a tragic reminder of the human cost of traffic accidents.

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News Network
November 27,2025

Bengaluru, Nov 27: Karnataka Chief Minister Siddaramaiah’s camp is reportedly on alert as the Congress leadership tussle in the state intensifies, particularly amid speculation over the potential promotion of Deputy Chief Minister D.K. Shivakumar. Siddaramaiah is said to be in a “wait-and-watch” mode after admitting to “confusion” earlier this week and urging the party to “put a full stop” to it.

Sources say his supporters are ready to act if senior leaders — including party chief Mallikarjun Kharge, Sonia Gandhi, and Rahul Gandhi — give any indication of backing Shivakumar. If the party insists on a leadership change, Siddaramaiah’s camp has a list of alternatives, underscoring the deep rift between the two leaders. One possible candidate is Home Minister G. Parameshwara, a Siddaramaiah loyalist and influential Dalit leader.

The strategy was reportedly finalized at a meeting led by PWD Minister Satish Jarkiholi, another Siddaramaiah supporter, who stressed that Delhi leaders need to resolve the issue. Kharge and the Gandhis are expected to meet soon, after which Siddaramaiah and Shivakumar may be summoned to Delhi.

Shivakumar has largely stayed non-confrontational, publicly endorsing Siddaramaiah and downplaying speculation about his own ambitions. However, he has made pointed comments emphasizing the importance of honoring promises, directed at Siddaramaiah.

The feud traces back to the 2023 state election, when Siddaramaiah was chosen as Chief Minister while Shivakumar, who led the party’s campaign, was made Deputy CM and state party chief — a departure from the Congress’ usual “one post per person” rule.

There were also hints of a prior understanding that Siddaramaiah would step down midway through the term. As the halfway mark passed last week, Shivakumar-aligned lawmakers have ramped up pressure on the party for a leadership change, with Shivakumar himself hinting at stepping down as state party chief to pursue the top job.

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News Network
November 21,2025

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An Indian Air Force (IAF) Tejas fighter jet crashed on Friday, November 21, afternoon during its aerial demonstration at the Dubai Air Show, plunging to the ground at around 2:10 pm local time while performing a manoeuvre before thousands of spectators.

The IAF confirmed the incident, stating that a Tejas aircraft participating in the show had crashed and that further details were being gathered. An Air Force spokesperson said more information would be shared after initial assessments.

The crash sent thick black smoke billowing into the sky near the airport, causing panic among visitors, including families and children who had gathered to watch the display. Authorities have not yet confirmed whether the pilot managed to eject before the aircraft went down. Emergency response teams rushed to the scene, and officials have not released information on casualties or damage so far.

The Tejas is a 4.5-generation, multi-role fighter aircraft developed indigenously by Hindustan Aeronautics Limited (HAL). Designed for versatility, it is capable of offensive air support, close combat, ground attack missions and maritime operations. The aircraft family includes single-seat fighters and twin-seat trainers for both the Air Force and Navy.

HAL describes the latest version, the LCA Mk1A, as the most advanced in the series, featuring an AESA radar, an upgraded electronic warfare suite with radar-warning and self-protection jamming, smart multifunction displays, a digital map generator, a combined interrogator–transponder system and a modern radio altimeter. These enhancements significantly improve the aircraft’s combat capability and survivability.

Further updates from IAF and UAE authorities are awaited.

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