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
May 26,2024

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Cairo/Jerusalem, May 26: Hamas said it launched missiles at Tel Aviv on Sunday, prompting sirens to sound in the Israeli city for the first time in four months as the Palestinian group sought to show military strength despite Israel's Gaza offensive.

The Israeli military said eight projectiles were identified crossing from the area of Rafah, the southern tip of the Gaza Strip where Israel kept up genocidal operation despite a ruling by the top U.N. court ordering it to stop attacking the city.

The Israeli military said a number of the projectiles were intercepted. Israeli emergency services said they had received no reports of casualties.

In a statement on its Telegram channel, the Hamas al-Qassam Brigades said the rockets were launched in response to "Zionist massacres against civilians".

Hamas-affiliated Al-Aqsa TV said the rockets were launched from the Gaza Strip.

Rafah is located about 100 km (60 miles) south of Tel Aviv.

Israel claims it wants to root out Hamas fighters holed up in Rafah and rescue hostages it says are being held in the area, but its assault has worsened the plight of civilians and caused an international outcry.

On Sunday, Israeli strikes killed at least five Palestinians in Rafah, according to local medical services.

Israeli tanks have probed around the edges of the city, close to the main southern crossing point into Egypt, but have not yet entered the city in force.

Following the rocket salvo, Israel's hardline public security minister Itamar Ben Gvir - who is not part of Israel's war cabinet - urged the army to hit Rafah harder.

"Rafah with full force," he posted on X.

The development came amid a genocidal war that the Israeli regime has been waging against Gaza since October 7.

Nearly 36,000 Palestinians, mostly women and children, have died as a result of the brutal military onslaught that began following Al-Aqsa Storm, a retaliatory operation staged by the coastal sliver’s resistance movements.

Despite the unabated campaign of bloodshed and destruction, the regime has so far fallen short of realizing its goals.

These include defeating Gaza’s resistance, enabling liberation of those who were taken captive during Al-Aqsa Storm, and causing forced displacement of Gaza’s entire population to neighboring Egypt.

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News Network
May 24,2024

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Udupi, May 24: In a heart-wrenching incident, a college student lost his life after being struck by lightning while standing near a washroom to take a bath in Shirva Manibettu, Udupi district, last night.

The deceased, Rakshit Poojary, only 20 years old, was the beloved son of Ramesh Poojary. A resident of Shirva Manibettu Totadamane, Rakshit was in his second year of BCA studies at Shirva MSRS College.

Rakshit was standing near the washroom to take a bath when the lightning struck him. He was discovered lying on the ground and was rushed to Manipal Hospital by his devastated family. Despite the best efforts of the medical team, Rakshit passed away at 10 PM.

The sudden and tragic loss of this young student has left the community in deep sorrow, mourning the untimely death of a bright and promising young man.

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News Network
May 23,2024

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Bengaluru, May 23: Karnataka’s capital has once again got bomb threat in 10 days, with three reputed hotels in including The Oterra receiving terror emails today.

Following this, the Bomb Squad and Police teams rushed to the spot and are currently at The Oterra Hotel, DCP South East Bengaluru said.

The recent development comes as Delhi's North Block that houses the home ministry office, received a bomb threat on Wednesday. 

According to a Delhi Fire Services (DFS) official, the threat was received through an email which was sent around 3.30 PM to a senior officer posted at the ministry. The email stated that the building will explode as a bomb is planted.

Subsequently, the Police and fire department personnel, bomb disposal and detection teams, and a dog squad were deployed for the search operation at the North Block. However, the threat was later declared a hoax after nothing objectionable was found.

In another similar incident that occurred in the city last week on May 14, eight schools in various parts of Bengaluru received a bomb threat via email. This too was later declared a hoax by the city police.

On May 13, six private hospitals in Bengaluru also received bomb threat through email, although it did not specify which branch. Acting swiftly, the state police deloyed teams to all the hospital branches, initiating a comprehensive search operation in the hospitals.

The email was sent to the Bengaluru Police's Special Branch, alleging the presence of explosive materials inside the hospitals. However, during the investigation and combing operation, the threat was found to be a hoax.

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