Rupee Slips 28 Paise to 71.88 against USD in Early Trade amid Rising Demand for Dollar after Saudi Oil Attacks

Agencies
September 17, 2019

Mumbai, Sept 17: The rupee opened on a cautious note and fell 28 paise to 71.88 against the US dollar in early trade on Tuesday amid rising demand for the US dollar vis-a-vis other currencies overseas.

Forex traders said the drone attacks on Saudi Arabia's oil facilities have enthused demand for safe heaven assets like the US dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.01 per cent to 98.61.

The Indian rupee on Monday had plunged by 68 paise to 71.60 against the US dollar amid concerns over soaring crude prices following drone attacks on Saudi Arabia's oil facilities.

At the Interbank Foreign Exchange, the rupee opened at 71.83 then fell to 71.88 against the US dollar, showing a decline of 28 paise over its previous closing.

The Indian rupee on Monday had closed at 71.60 against the US dollar.

Forex traders said weak opening in domestic equities and unabated foreign fund outflows also weighed on the domestic currency.

Domestic bourses opened on a negative note on Tuesday with benchmark indices Sensex trading 137.87 points down at 36,985.44 and Nifty lower by 38.85 points at 10,964.65.

Foreign institutional investors (FIIs), who were net buyers for the past few sessions, offloaded shares worth Rs 751.26 crore on Monday, according to provisional exchange data.

"The recent attack on Saudi Arabia's largest oil processing plant has sent oil prices shooting up. If production is not resumed soon, such a rise could hurt the global economy as consumer costs will also go up. This will definitely affect India, where the economy is already stressed," said Pushkar Mukewar, Co-Founder and Co-CEO of Drip Capital, a US & India based trade finance firm.

Mukewar further said that the rupee is likely to remain volatile.

Crude oil benchmark, Brent Futures, surged by almost 20 per cent to USD 71.95 per barrel (intra-day) on Monday after twin drone attacks on Saturday wiped out more than half of Saudi Arabia's crude supply.

However, Brent Futures on Tuesday saw some moderation and was trading at USD 68.35 per barrel, down 0.97 per cent over the previous close.

The 10-year government bond yield was at 6.71 per cent in morning trade.

Meanwhile on the global front, a Chinese vice finance minister will visit the United States on Wednesday to lay the groundwork for trade talks next month.

The official Xinhua news agency said vice finance minister Liao Min will lead a delegation visiting the United States on Wednesday to "pave the way" for the higher level talks.

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News Network
December 20,2025

Mangaluru, Dec 20: The Mangaluru City Police have issued a detailed traffic advisory ahead of the inaugural ceremony of Karavali Utsava, which will be held at the Karavali Utsava Ground on Saturday.

The festival will be inaugurated at 6:00 pm by Dakshina Kannada District Minister Dinesh Gundu Rao. Cultural and public programmes will be held at the venue every evening and will continue until January 2.

According to City Police Commissioner Sudheer Kumar Reddy, parking of vehicles is strictly prohibited on both sides of the road from Lalbagh to Karavali Utsava Ground. Visitors are requested to park their vehicles only at designated parking areas.

To help the public, traffic signboards and parking guidance flex boards have been installed along the routes leading to the venue. The police have urged commuters and visitors to follow these instructions to ensure smooth traffic movement.

Designated Parking Locations

•    Urwa Market Ground – Cars
•    Gandhinagar Government School (near Press Club) – Two-wheelers and cars
•    Ladyhill Church parking area – Two-wheelers and cars
•    Canara School Ground, Mannagudda – Two-wheelers and cars
•    Thimmappa Hotel premises – Two-wheelers and cars
•    Scout and Guide Bhavana premises (behind Karavali Utsava Grounds) – Two-wheelers
•    Urwa Market Road – Two-wheelers
•    Hat Hill Road – Two-wheelers

The police have appealed to the public to cooperate by following traffic rules and parking guidelines to avoid inconvenience during the festival.

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News Network
December 19,2025

Saudi Arabia has abolished fees on expatriate workers employed in licensed industrial establishments, signaling a strong push to empower national factories and enhance the Kingdom’s global industrial competitiveness. The move reflects the leadership’s commitment to building a sustainable and resilient industrial economy under Saudi Vision 2030.

The decision was approved by the Council of Ministers, chaired by Crown Prince and Prime Minister Mohammed bin Salman, following a recommendation from the Council of Economic and Development Affairs (CEDA). It forms part of a broader strategy to support, modernize, and strengthen the industrial sector.

By removing fees on foreign workers, industrial establishments gain greater operational flexibility and relief from financial pressures. This is expected to help factories expand production, improve efficiency, and compete more effectively in international markets, while reinforcing long-term sustainability.

The initiative aligns closely with Saudi Vision 2030, which identifies industry as a key pillar of economic diversification. A competitive and resilient industrial base is viewed as essential for driving innovation, attracting investment, and sustaining long-term economic growth.

Overall, the fee exemption underscores the Kingdom’s commitment to creating a supportive environment for industrial development and ensuring that Saudi factories remain globally competitive and capable of leading the nation’s economic transformation.

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News Network
December 20,2025

train.jpg

At least seven elephants were killed and one calf injured after a herd collided with the Sairang-New Delhi Rajdhani Express in Assam's Hojai on Saturday morning, leading to disruption of rail services. 

The Sairang-New Delhi Rajdhani Express struck a herd of elephants, resulting in the derailment of the locomotive and five coaches. No passenger casualties or injuries were reported, officials said.

The New Delhi-bound train met with the accident around 2.17 am, PTI reported. The Sairang-New Delhi Rajdhani Express connects Mizoram's Sairang (near Aizawl) to Anand Vihar Terminal (Delhi). 

Railway has issued helpline numbers at the Guwahati Railway Station:-

•    0361-2731621
•    0361-2731622
•    0361-2731623

The accident site is located about 126 km from Guwahati. Following the incident, accident relief trains and railway officials rushed to the spot to initiate rescue operations.

Train Services Disrupted

Sources said that due to the derailment and elephant body parts scattered on the tracks, train services to Upper Assam and other parts of the Northeast were affected.

Passengers from the affected coaches were temporarily accommodated in vacant berths available in other coaches of the train. Once the train reaches Guwahati, additional coaches will be attached to accommodate all passengers, after which the train will resume its onward journey.

The incident occurred at a location that is not a designated elephant corridor. The loco pilot, upon spotting the herd on the tracks, applied emergency brakes. Despite this, the elephants dashed into the train, leading to the collision and derailment.

Last month, an elephant was killed after being hit by a train in Dhupguri in West Bengal's Jalpaiguri district. The incident took place on November 30. 

The adult elephant was killed on the spot, and a calf was discovered lying injured beside the tracks. 

Over 70 Elephants Killed In Train Collisions Over Last 5 Years

At least 79 elephants have died in train collisions across the country in the last five years, the Environment Ministry had informed Parliament in August.

In a written reply in the Lok Sabha, Minister of State for Environment Kirti Vardhan Singh had said the figure is based on reports from state governments and Union Territory administrations for the period 2020-21 to 2024-25.

He said that the ministry does not maintain consolidated data on the deaths of other wild animals on railway tracks, including in designated elephant corridors.

Singh confirmed that three elephants, including a mother and her calf, were killed on July 18 this year after being hit by a speeding express train on the Kharagpur-Tatanagar section in West Bengal's Paschim Midnapore district. The incident took place near Banstala between Jhargram and Banstala stations.

The minister said several measures have been taken jointly by the Environment Ministry and the Railways to prevent such accidents.

These include imposing speed restrictions in elephant habitats, pilot projects such as seismic sensor-based detection of elephants near tracks and construction of underpasses, ramps and fencing at vulnerable points.

The Wildlife Institute of India, in consultation with the ministry and other stakeholders, has also issued guidelines titled 'Eco-friendly Measures to Mitigate Impacts of Linear Infrastructure' to help agencies design railways and other projects in ways that reduce human-animal conflicts.

Singh added that capacity-building workshops were conducted for railway officials at the Wildlife Institute of India in 2023 and 2024 to raise awareness on elephant conservation and protection.

A detailed report titled 'Suggested Measures to Mitigate Elephant & Other Wildlife Train Collisions on Vulnerable Railway Stretches in India' had also been prepared after surveys across 127 railway stretches covering 3,452 km.

Of these, 77 stretches spanning 1,965 km in 14 states were prioritised for mitigation, with site-specific interventions suggested. 

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