Seven wild Asian elephants, including calves, were killed when a high-speed train collided with a herd crossing the tracks in north-eastern India, local officials say. They say another calf was injured in the incident early on Saturday in Hojai district, Assam state.Seven wild Asian elephants
Rupee Hits All-Time Low, Breaches 90 Per Dollar For The First Time
Rupee Hits All-Time Low, Breaches 90 Per Dollar For The First Time
The Indian rupee slipped to a fresh record low of 90.16 per US dollar today, compared with Tuesday's close of 89.96, signaling renewed pressure on the currency. The rupee's drop comes after the currency hit a record low on Tuesday as persistent FPI outflows and the absence of a US–India trade deal outweighed strong domestic macro fundamentals.
Why Rupee Is Falling?
The rupee, down about 5% against the dollar this year and among Asia's worst performers, is under pressure from a record-high trade deficit, delays in sealing a US–India trade deal and persistent foreign investor outflows. A surge in imports- particularly gold and silver- alongside falling exports has widened the merchandise trade gap to $41.68 billion, fuelling dollar demand.
Weak portfolio flows, muted trade activity and the drag from US tariffs have added to the strain, while foreign investors have pulled out nearly $17 billion from equities so far this year, further weighing on the currency.
Will Rupee Fall Further?
Pressure on the rupee may persist in the near term, with weak portfolio flows, a wider trade deficit and ongoing uncertainty around a US–India trade agreement keeping demand for dollars elevated. While the RBI has been actively intervening to slow the decline, sustained outflows and strong dollar strength globally could push the currency lower over time. However, the central bank's intervention strategy and any improvement in external flows will determine how much further the rupee weakens from current levels.
What Experts Are Saying?
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Market participants say skewed dollar flows are intensifying the rupee's weakness. Ritesh Bhansali, deputy chief executive officer at Mecklai Financial Services, told Bloomberg News, “Exporters are not selling dollars aggressively since the rupee is depreciating, while the dollar demand from importers remains high."
Barclays noted that only the conclusion of an India–US trade deal is likely to offer meaningful near-term respite for the currency. With the psychologically key 90 level now breached, the rupee could slip further toward 90.30 in the coming days, HDFC Securities said.
Source: News18
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Seven wild Asian elephants, including calves, were killed when a high-speed train collided with a herd crossing the tracks in north-eastern India, local officials say. They say another calf was injured in the incident early on Saturday in Hojai district, Assam state.Seven wild Asian elephants
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