Rupee hits record low; 19.27 against UAE dirham, 70.81 against US dollar

Agencies
August 30, 2018

Mumbai, Aug 30: The Indian rupee plunged to a fresh record low of 70.81 to a US dollar during the morning trade session on Thursday.

Around 10am (India time) the rupee was pegged at 70.68 after it touched 70.81 to a US dollar - the lowest ever mark - against the greenback.

Against the UAE dirham, the rupee was trading at 19.27 at 8:00am (UAE time), according to XE.com.

It opened the day's trade at the Interbank foreign exchange market at 70.58 to a US dollar and soon surpassed its record low of 70.65 to a greenback on Wednesday.

According to analysts, continuous outflow of foreign funds, along with caution ahead of key macro-economic data, coupled with volatile global crude oil prices pulled the Indian rupee to a fresh low.

"Importers month-end US dollar demand and high crude oil prices have pulled the rupee lower," Anand Rathi Shares and Stock Brokers research analyst Rushabh Maru said.

On Wednesday, the Indian rupee had plunged to 70.65-66 - the lowest ever mark - against the greenback.

Key equity market indices open in green

Meanwhile, the key Indian equity market indices on Thursday opened higher despite a muted trend in global markets.

The Sensitive Index (Sensex) of the BSE, which had closed at 38,722.93 points on Wednesday, opened higher at 38.796.98 points.

Minutes into trading, it was quoting at 38,753.10 points, up by 30.17 points, or 0.08 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 11,691.90 points on Wednesday, was quoting at 11,693.15 points, up marginally by 1.25 points or 0.01 per cent.

The equity indices closed in the negative territory on Wednesday as the rupee slumped to an all-time low, while weak global cues further subdued the sentiments, according to analysts.

The Sensex was down by 173.70 points or 0.45 per cent at the Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 38,989.65 points and a low of 38,679.57 points. The Nifty, was down by 46.60 points or 0.40 per cent.

On Thursday, Asian indices were showing a mixed trend. Japan's Nikkei 225 was quoting in green, up by 0.06 per cent while Hang Seng was down by 0.66 per cent, South Korea's Kospi was up 0.06 per cent. China's Shanghai Composite index was trading in red, down by 0.79 per cent.

Overnight, Nasdaq closed in green, up by 0.98 per cent while FTSE 100 was down by 0.71 per cent at the closing on Wednesday.

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News Network
November 21,2024

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The International Criminal Court (ICC) has issued arrest warrants for Israeli prime minister Benjamin Netanyahu and his former minister of military affairs Yoav Gallant over war crimes against Palestinians in the Gaza Strip.

The court’s Pre-Trial Chamber I issued warrants of arrest for Netanyahu and Gallant "for crimes against humanity and war crimes committed from at least 8 October 2023 until at least 20 May 2024, the day the Prosecution filed the applications for warrants of arrest”, it confirmed in a statement Thursday.

It is the first instance in the court's 22-year history it has issued arrest warrants for Western-allied senior officials.

In its statement, the ICC's Pre-Trial Chamber I, a panel of three judges, said it has rejected appeals by Israel challenging its jurisdiction. 

The chamber said it has decided to release the arrest warrants because "conduct similar to that addressed in the warrant of arrest appears to be ongoing", referring to Israel's ongoing onslaught on Gaza.

Netanyahu and Gallant, it said, “each bear criminal responsibility” for “the war crime of starvation as a method of warfare; and the crimes against humanity of murder, persecution, and other inhumane acts,” as well as “intentionally directing an attack against the civilian population.”

All 124 states that signed the Rome Statute, the treaty that established the court, are now under an obligation to arrest the wanted individuals and hand them over to the ICC in the Hague. 

The court relies on the cooperation of member states to arrest and surrender suspects. The Netherlands' foreign minister quickly said his country was prepared to enforce the warrants while 93 nations earlier reiterated their support for the ICC.

Triestino Mariniello, a lawyer representing Palestinian victims at the ICC, called the warrants "a historic decision".

He noted that the court had endured "pressure and threats of sanctions" from the US government, but acted nonetheless.

As expected, the Tel Aviv regime rejected the rulings, with its security minister Itamar Ben Gvir calling the warrants “anti-Semitic through and through.”

The ICC said Israel’s acceptance of the court’s jurisdiction was not required.

Israel and its major ally, the United States, are not members of the court. 

Israel unleashed its bloody Gaza onslaught on October 7, 2023. So far, it has killed at least 43,985 Palestinians, mostly women and children, and injured 104,092 others, according to the Gaza Health Ministry.

Israel faces an ongoing South Africa-led genocide case at the International Court of Justice (ICJ).

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News Network
November 29,2024

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New DelhiI: The Supreme Court on Friday asked the Sambhal Shahi Jama Masjid committee to approach the Allahabad High Court and told the district court not to act until then upon a survey ordered on a claim of the mosque having built on a pre-existing temple.

A bench of Chief Justice of India Sanjiv Khanna and Sanjay Kumar directed Uttar Pradesh to maintain peace and harmony in the area, where four protesters were killed during the heavy stone pelting. The court also ordered the survey report of the advocate commissioner's report should be kept in sealed cover.

"We don't want anything to happen in the meanwhile...Let them (Shahi Jama Masjid committee) exercise appropriate remedies. We will keep this pending," the bench said.

Advocate Vishnu Shankar Jain, appearing for plaintiff Hari Shankar Jain and others submitted the next date of hearing has been fixed for January 8 before the civil judge (senior division).

Senior advocate Huzefa Ahmadi, appearing for the petitioner committee, contended the order is capable of great public mischief. He said as of 10 such suits are pending across the country where the survey is sought to be conducted.

"We hope and trust the trial court will not take any proceedings...We have not expressed any opinion on merits," the bench said, fixing the matter for consideration in the week commencing on January 6.

In case any revision application is filed, it should be heard within three days before the High Court, the bench ordered.

At the outset, the bench said it had some reservations with the order passed by the Civil Judge (senior division) on November 19.

The court told the Uttar Pradesh government represented by Additional Solicitor General K M Nataraj that the district administration has to remain neutral and maintain peace in the area.

The court directed the plaintiff not to file any papers.

It also ordered the advocate commissioner's report should be kept in a sealed cover.

The petitioner committee questioned the validity of the survey ordered within a short period, triggering violence in the area and leading to the death of four protestors.

The plea filed by the Committee of Management, Shahi Jama Masjid, Sambhal claimed "the hot haste" in which the survey was allowed and conducted all within a day and suddenly another survey was conducted after a couple of days with a notice of barely six hours that had given rise to widespread communal tensions and threatened the secular and democratic fabric of the nation.

The survey was ordered by a civil judge (senior division) on a suit filed by advocate Hari Shankar Jain and others.

According to the plaintiffs, Shahi Jama Masjid at Chandausi was built by Mughal emperor Babar in 1526 after demolishing the Shri Harihar temple.

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News Network
November 25,2024

Udupi: Six junior artists from the prequel of Kannada blockbuster film ‘Kantara’ were injured, when the bus they were travelling in overturned in the district, police said on Monday.

According to police, the accident occurred near Jadkal on Sunday night when the mini-bus carrying the crew of the film overturned.

“The incident happened while they were returning to Kollur after completing the shoot at Mudoor in Jadkal. The mini-bus was carrying 20 junior artistes when it met with the accident,” a police officer said.

The injured were rushed to hospitals in Jadkal and Kundapur for treatment, they said.

The Kollur police are investigating the matter.

"The news making rounds is completely false. The Kantara: Chapter 1 team began shooting at 06:00 AM today, and everything is proceeding as normal. A minor accident occurred 20 kilometres away from the shooting location, involving a local bus carrying some members of the Kantara team. However, no injuries were reported," a source close to the production said.

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