Indian Rupee hits record low of 79.58 against US dollar in early trade

News Network
July 12, 2022

New Delhi, July 12: The rupee on Tuesday opened at a historic low, down 13 paise to 79.58 against US dollar in early trade as strong American currency overseas and losses in domestic equities weighed on investor sentiments.

Besides, persistent foreign fund outflows and elevated crude oil prices kept the pressure on the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened lower at 79.55 against the American dollar and slipped further to quote at 79.58, a decline of 13 paise over its last close.

In initial trade, the local currency witnessed a high of 79.55 and a low of 79.62 against the US dollar.

In the previous session, the rupee had closed at an all-time low of 79.45 against the greenback.

On the domestic equity front, the 30-share Sensex was trading 259.08 points or 0.48 per cent lower at 54,136.15, while the broader NSE Nifty slipped 83.25 points or 0.51 per cent to 16,132.75.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, gained 0.27 per cent to 108.31.

Global oil benchmark Brent crude futures declined 1.48 per cent to USD 105.52 per barrel.

Foreign institutional investors were net sellers in the capital market on Monday as they sold shares worth Rs 170.51 crore, as per exchange data.

The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupee in view of the increasing interest of the global trading community in the domestic currency. 

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News Network
November 29,2025

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New Delhi: Karnataka chief minister Siddaramaiah and deputy CM DK Shivakumar on Saturday put up a dramatic display of unity at a closely watched joint press briefing, firmly dismissing weeks of speculation about a power-sharing tussle within the Congress. With the high command nudging both leaders to sit together and settle the dust, the meeting became a political spectacle, ending with the duo declaring that there was “no confusion, no differences.”

Calling the reports of a rift “manufactured confusion,” Siddaramaiah said the talks had gone smoothly, even joking about their breakfast. “Breakfast was very good. All three of us enjoyed it,” he said. “We want to end this confusion once and for all. For local elections and for 2028, our mission is clear — Congress must return to power. There is no difference between me and DKS, not now, not before.”

He blamed the media for fuelling rumours and reiterated absolute adherence to the party leadership. “From tomorrow, let there be no confusion. What the high command says, we will follow.”

Siddaramaiah also assured that the Assembly session starting December 8 would run smoothly and vowed that Congress would take on the BJP and JD(S) “together.”

Shivakumar echoed the chief minister word for word, stressing loyalty and discipline. “People have given us a massive mandate. It is our duty to deliver,” he said. “This government was formed under Siddaramaiah’s leadership. We both have complete trust in the high command. If they tell me to wait, I will wait.”

He added that the two leaders had discussed strategy for the 2028 Assembly elections. “Whatever the CM says, I agree. We are loyal soldiers of the party. The party may be facing challenges nationally, but we will keep it strong in Karnataka.”

Shivakumar also said Siddaramaiah would soon visit his home for lunch or dinner — another symbolic gesture meant to underline their unity.

Both leaders later posted on social media describing the breakfast meeting as “productive” and focused on “Karnataka’s priorities.”

The BJP, however, rejected the show of camaraderie as “pure bunkum,” accusing Congress of trying to paper over an internal power struggle. But Siddaramaiah and Shivakumar insisted their united front would continue — and that there was “no confusion” within the state leadership.

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News Network
December 4,2025

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Domestic carrier IndiGo has cancelled over 180 flights from three major airports — Mumbai, Delhi and Bengaluru — on Thursday, December 4, as the airline struggles to secure the required crew to operate its flights in the wake of new flight-duty and rest-period norms for pilots.

While the number of cancellations at Mumbai airport stands at 86 (41 arrivals and 45 departures) for the day, at Bengaluru, 73 flights have been cancelled, including 41 arrivals, according to a PTI report that quoted sources.

"IndiGo cancelled over 180 flights on Thursday at three airports-Mumbai, Delhi and Bengaluru," the source told the news agency.

Besides, it had cancelled as many as 33 flights at Delhi airport for Thursday, the source said, adding, "The number of cancellations is expected to be higher by the end of the day."

The Gurugram-based airline's On-Time Performance (OTP) nosedived to 19.7 per cent at six key airports — Delhi, Mumbai, Chennai, Kolkata, Bengaluru and Hyderabad — on December 3, as it struggled to get the required crew to operate its services, down from almost half of December 2, when it was 35 per cent.

"IndiGo has been facing acute crew shortage since the implementation of the second phase of the FDTL (Flight Duty Time Limitations) norms, leading to cancellations and huge delays in its operations across the airports," a source had told PTI on Wednesday.

Chaos continued at several major airports for the third day on Thursday because of the cancellations.

A spokesperson for the Kempegowda International Airport (KIA) in Bengaluru said that 73 IndiGo flights had been cancelled on Thursday.

At least 150 flights were cancelled and dozens of others delayed on Wednesday, airport sources said, leaving thousands of travellers stranded, according to news agency Reuters.

The Directorate General of Civil Aviation (DGCA) has said it is investigating IndiGo flight disruptions and has asked the airline to submit the reasons for the current situation, as well as its plans to reduce flight cancellations and delays.

It may be mentioned here that the pilots' body, Federation of Indian Pilots (FIP), has alleged that IndiGo, despite getting a two-year preparatory window before the full implementation of new flight duty and rest period norms for cockpit crew, "inexplicably" adopted a "hiring freeze".

The FIP said it has urged the safety regulator, the DGCA, not to approve airlines' seasonal flight schedules unless they have adequate staff to operate their services "safely and reliably" in accordance with the New Flight Duty Time Limitations (FDTL) norms.

In a letter to the DGCA late on Wednesday, the FIP urged the DGCA to consider re-evaluating and reallocating slots to other airlines, which have the capacity to operate them without disruption during the peak holiday and fog season if IndiGo continues to "fail in delivering on its commitments to passengers due to its own avoidable staffing shortages."

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News Network
November 21,2025

Bantwal: A domestic dispute appears to have led to a violent confrontation in BC Road area, where the owner of a textile shop was allegedly attacked with a knife by his wife on Wednesday evening.

Krishna Kumar Somayaji, the owner of Somayaji Textiles, sustained serious injuries in the incident and was immediately taken to a hospital for treatment. He is currently receiving care in the intensive care unit and is reported to have survived the assault, according to police.

The Bantwal Town police have registered a case against Somayaji's wife, Jyothi KT, who has since been taken into custody.

Police stated that the complainant, Namita, an employee at the shop, reported the sequence of events. She stated that around 7 p.m. on Wednesday, the suspect entered the shop, wearing a burqa and disguised as a customer, before attacking Somayaji with a knife. The employee then transported the injured owner to a local hospital via an autorickshaw.

Superintendent of Police Arun K confirmed that an ongoing domestic dispute between Somayaji and his wife reportedly preceded the attack. Police noted that Jyothi KT had previously visited the shop and issued threats.

Based on the complaint, Bantwal Town police have registered a case under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Indian Arms Act-1959. An investigation into the incident is currently underway.

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