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Rupee ends at record closing low against US dollar for seventh straight session

MUMBAI, Jan 1 (Reuters) – The Indian rupee weakened slightly on Wednesday, pressured by dollar bids from importers, which pushed the currency to a record closing low for the seventh consecutive session and affirmed the depreciation bias on the local unit. The rupee closed at 85.6450 against the U.S. dollar, down from its close of 85.6150 in the previous session. Global cues were muted on the day, with most markets shut for the New Year holiday. While the first trading session of 2025 was relatively lacklustre, traders expect the rupee to remain under pressure in the near term due to

CPI(M) leader Brinda Karat slams BJP chief Nadda over his silence over “Mini-Pakistan” remark

New Delhi [India], January 1 (ANI): Communist Party of India (Marxist) or CPI(M) leader Brinda Karat has come down hard on the Bharatiya Janata Party (BJP) President JP Nadda over his silence on the “Mini-Pakistan” remarks made by Maharashtra Minister Nitesh Rane. “If a BJP leader can dare to make such statements about Kerala, which is a symbol of pluralistic culture and harmony, it is because he enjoys impunity from the party’s leadership,” Karat, a poliburo member of the CPI (M), told ANI. She said that Nadda who comments on every (political) development must also condemn remarks made by his

Manipur CM apologises for ethnic conflict, urges all communities to forget, forgive past mistakes

Imphali, Dec 31 (PTI) Manipur Chief Minister N Biren Singh on Tuesday apologised for the ethnic conflict in the state which claimed over 250 lives and rendered thousands homeless, and appealed to all communities to forget and forgive past mistakes and live together in a peaceful and prosperous state. Addressing reporters here, Singh said that there has been relative peace in the state in the last three-four months, which gives him hope that normalcy will be restored in the new year. “I want to say sorry for what happened in the state. Many people lost their loved ones and many

India rupee drops for 7th straight year as headwinds swirl near year-end

MUMBAI, Dec 31 (Reuters) – The Indian rupee fell for a seventh straight year in 2024, largely due to headwinds in the last quarter, including Donald Trump’s U.S. election victory-spurred surge in the dollar, while locally, slowing growth and a wider trade deficit weighed. The rupee dropped 2.8% in 2024 to end the year at 85.6150 per U.S. dollar. It fared better than many of its Asian peers, which declined between 3% and 12% due to the dollar’s strength and multiple twists and turns in the outlook on U.S. policy rates. The rupee was only marginally weaker at the end

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