Rupee hits lifetime low of 72.18, drops 45 paise against US dollar

Agencies
September 10, 2018

Mumbai, Sept 10: The rupee on Monday slumped to a fresh record low of 72.18 by falling 45 paise against the U.S. dollar on strong demand for the U.S. currency from importers as the greenback strengthened against other currencies overseas on upbeat jobs data.

At the Interbank Foreign Exchange (Forex) market, the local currency opened at record low of 72.15 a dollar from its previous close of 71.73 and slipped to hit a fresh low of 72.18, down by 45 paise. It had breached its previous record low of 72.11 hit on September 6.

Forex dealers said besides strong demand for the American currency, buying by importers, mainly oil refiners in view of surging crude oil prices and capital outflows, weighed on the domestic currency.

Furthermore, the dollar strength against its rival currencies overseas amid fears of a possible escalation in the US-China trade conflict too put pressure on the rupee, they said.

The rupee on Friday staged a turnaround to close higher by 26 paise at 71.73 after heavy intervention by the Reserve Bank of India.

Meanwhile, the BSE Sensex dropped by 85.01 points, or 0.22 per cent, to 38,304.81 in opening trade.

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News Network
May 3,2024

Mangaluru, May 3: The Mangaluru City Corporation will resort to water rationing from May 5 as the Thumbe vented dam, which supplies drinking water to the city, is facing a shortage in water storage.

Instead of daily supply, water will be supplied on alternate days, the Executive Engineer (Water Supply) at the corporation said in a release.

The release said that water will be supplied to Mangaluru City North on May 5. There will be no water supply to Mangaluru City North on May 6. Instead water will be supplied to Mangaluru City South on May 6. Likewise the supply on alternate days will continue.

The inflow in the Netravathi has stopped, the release said, requesting people to cooperate with the corporation and not waste water for washing vehicles and other purposes.

An engineer at the corporation said that water level at the dam stood at 4.27 m on Wednesday against the full storage level of 6 m. If water is supplied daily to the entire city (Mangaluru City North and Mangaluru City South) the existing storage will last only for 16 days, the engineer said. Hence the decision to supply water on alternate days has been taken to supply water till May-end.

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News Network
April 29,2024

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Bagalkot, Apr 29: Prime Minister Narendra Modi on Monday accused the Congress of planning religion-based reservation in the country for the sake of vote bank politics but asserted that he will not let it happen.

He said this Congress proposal is to appease minorities as the SC/ST and OBC community is now with the BJP.

"In Karnataka, Congress has started a campaign to change the Constitution and to snatch away the rights of SC/ST and OBCs. Our Constitution does not accept religion-based reservation. But the Karnataka government has given part of OBC reservation to Muslims," Modi said.

Addressing a mega election rally in this district headquarters town, he said, "They (Congress) will not settle with this. They had earlier too in their manifesto said about coming out with a law to provide religion-based reservation. There is a similar signal in their manifesto this time."

"I want to make my Dalit, SC/ST and OBC brothers and sisters aware about Congress' intentions. These people on the basis of religion, to keep their vote bank safe, are planning to loot your right which was given by Babasaheb Ambedkar and the Constitution," he added.

Veteran BJP leader B S Yediyurappa, BJP candidates and MPs from Bagalkot (Bagalkot) and Vijayapura (Bijapur) - P C Gaddigoudar and Ramesh Jigajinagi, respectively - were among those present at the rally.

Noting that most of SC, ST and OBC MPs in the Parliament are from BJP, Modi said, "So they feel that as SC, ST and OBC are with BJP. To gain the trust of minorities, they want to loot from SC, ST and OBC and give it to minorities. Will you let this happen?"

"I want to guarantee today to my Dalit, Adivasi and OBC brothers and sisters. I will not let such intentions of Congress be successful. To protect your rights, your reservation, Modi will go to any extent. I'm assuring you this," he added.

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News Network
May 8,2024

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Nearly 80 Air India Express flights were canceled after the cabin crew members went on a "mass sick leave", official sources said on Wednesday.

As many as 79 international and domestic flights were canceled after about 300 senior cabin crew members reported sick at the last minute and switched off their mobile phones.

The Air India Express management is currently trying to reach out to the crew, who are protesting against the new employment term at the Tata Group-owned airline, sources said.

The cabin crew has also alleged that there was a lack of equality in the treatment of the staff after the merger with Tata Group. They claim that some staff members were offered lower job position despite clearing interviews, sources said.

"A section of our cabin crew has reported sick at the last minute, starting last night, resulting in flight delays and cancellations. While we are engaging with the crew to understand the reasons behind these occurrences, our teams are actively addressing this issue to minimise any inconvenience caused to our guests as a result," an Air India Express spokesperson said.

"We sincerely apologise to our guests for this unexpected disruption and emphasise that this situation does not reflect the standard of service we strive to provide," the spokesperson added.

Guests impacted by cancellations will be offered a full refund or complimentary rescheduling to another date, the airline said.

Several passengers took to their social media accounts and complained about the sudden cancellations of their flights. They said that they had "no information" about the cancellations.

Some "very disappointed" passengers on X said that they had reached the airport when they were informed that their flights were canceled.

"We apologise for any inconvenience. Please be informed that your flight has been canceled due to operational reasons," Air India Express said in response to one of the posts on X.

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