Rupee sinks to 72.91 per US dollar; inches closer to 20 against UAE dirham

Agencies
September 12, 2018

Mumbai, Sept 12: The rupee on Wednesday collapsed to a lifetime low of 72.91 against the dollar at the interbank foreign exchange market.

The domestic currency was quoting 22 paise lower at a fresh record low of 72.91 against the US dollar in morning trade amid surging crude oil prices and uanabated foreign fund outflows.

Against the UAE dirham, the rupee was trading at 19.84 at 8:05am (UAE time), according to XE.com.

Escalating trade war concerns, consistent dollar demand from banks and importers, mainly oil refiners, following higher crude oil prices, kept the rupee under pressure, dealers said.

On Tuesday, after scaling a historic low of 72.74, the local unit, finally settled day at 72.69, showing a loss of 24 paise, or 0.33 per cent.

Brent crude gained 0.35 per cent to quote at USD 79.34 a barrel. It had surged over 2 per cent in Tuesday’s trade.

Sentiment was also hurt by sustained capital outflows, they added.

Meanwhile, the benchmark Sensex was up by 133.29 points, or 0.35 per cent, to 37,546.42 in the opening deals.

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News Network
March 17,2024

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Beltangady, Mar 17: A three-year-old boy was crushed to death under the wheels of an auto-rickshaw in front of his house at Panakaje Mundadi in Belthangady taluk of Dakshina Kannada. 

The gut-wrenching tragedy took place on Saturday, March 16 morning when the boy ran out of home to the road. 

The victim has been identified as Kaushik, the son of Chandrashekhar and Usha couple. Their home is situated adjacent to the main road at Panakaje.

It is learnt that the auto-rickshaw failed to notice the boy who suddenly darted towards the road and hit him. 

Even though the injured boy was rushed to a private hospital in Ujire and later to Mangaluru, he breathed his last. 

The Beltangady traffic police have registered a case in connection with the incident.

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News Network
March 17,2024

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New Delhi: The Election Commission on Sunday made public fresh data on electoral bonds, which it had submitted in sealed covers to the Supreme Court and was later asked to put it in public domain.

These details are believed to be pertaining to the period before April 12, 2019. Electoral bond details after this date was made public by the poll panel last week.

The BJP encashed electoral bonds totalling Rs 6,986.5 crore; maximum Rs 2,555 crore received in 2019-20, as per the EC data.

The Trinamool Congress received Rs 1,397 crore through electoral bonds, second largest recipient after BJP, as per the EC data.

On the other hand, the Congress redeemed a total of Rs 1,334.35 crore through electoral bonds.

DMK received Rs 656.5 crore through electoral bonds, including Rs 509 crore from lottery king Santiago Martin's Future Gaming.

BJD encashed electoral bonds worth Rs 944.5 crore, YSR Congress Rs 442.8 crore, TDP Rs 181.35 crore.

Political parties had filed data on electoral bonds in sealed cover as directed by the Supreme Court's interim order dated April 12, 2019, the poll panel said in a statement.

"Data so received from political parties was deposited in the Supreme Court without opening sealed covers. In pursuance of the Supreme Court's order dated March 15, 2024, the Registry of the Supreme Court has returned physical copies along with a digitized record of the same in a pen drive in sealed cover. The Election Commission of India has today uploaded the data received in the digitized form from the registry of the Supreme Court on electoral bonds on its website," EC said.

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News Network
March 16,2024

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New Delhi: The 2024 general election for 543 Lok Sabha seats will be held in seven phases from April 19, Chief Election Commissioner Rajeev Kumar said today, announcing the largest democratic exercise in the world. Results will be announced on June 4.

The seven phases: 
April 19
April 26
May 7
May 13
May 20
May 25
June 1

Simultaneous election for Lok Sabha and assembly will be held in four states -- Sikkim, Odisha, Arunachal Pradesh and Andhra.  

By-elections will also be held for 26 assembly seats across multiple states, including Bihar, Gujarat, Haryana, Jharkhand, Maharashtra, Rajasthan and Tamil Nadu.

Mr Kumar, announcing the dates, sent out a strong message on fake news on social media, saying political parties should ensure responsible social media behaviour -- "verify before you amplify".

"Fake news will be dealt with severely as per existent laws.. Section 79 (3)(B) of the IT Act empowers nodal officers in each state to remove unlawful content," he said.

The other strong message was on violation of model code in terms of hate speeches. "There should be issue-based campaign, no hate speeches, no speeches along caste or religious lines, no criticism of anyone's personal lives," he said.

The media must clarify when they carry political adverts, those cannot masquerade as news, he said. Individual messages regarding this would be sent to the candidates, he added.

The commission has employed 2,100 advisors to keep an eye on these issues and strong action will be taken regarding this, he said.

Voters above the age of 85 years and persons with disabilities, with 40 per cent disability can vote from home, Mr Kumar said. Around 82 lakh voter are above the age of 85, he said.

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