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Rupee hits record low; state-run, foreign banks’ dollar sales cap fall

Rupee hits record low; state-run, foreign banks’ dollar sales cap fall

MUMBAI, Jan 14 (Reuters) – The Indian rupee weakened to its all-time low on Tuesday due to strong dollar bids spurred by the maturity of positions in the non-deliverable forwards (NDF) market, while likely intervention by the Reserve Bank of India helped cap losses, traders said. The rupee hit a record low of 86.6475 before closing at 86.63 against the U.S. dollar, down from its close at 86.5750 in the previous session. The currency was under pressure through much of the session amid broad-based dollar demand prompted by maturing positions in the NDF market. State-run banks were spotted offering dollars,

Maintain decorum of home minister’s post: Pawar on Shah’s remarks

Maintain decorum of home minister’s post: Pawar on Shah’s remarks

Mumbai, Jan 14 (PTI) Former Union minister Sharad Pawar on Tuesday rubbished Union Home Minister Amit Shah’s remarks that the BJP’s victory in the November 20 Maharashtra assembly polls ended the politics of betrayal and treachery started by him in 1978. “I was the chief minister in 1978. I am not aware about his whereabouts then,” Pawar told reporters in Mumbai. “When I was the chief minister, there were people like Uttamrao Patil from Jan Sangh in my ministry,” Pawar added. The decorum of the post of home minister should be maintained, the NCP (SP) chief said, bemoaning the lack

Wholesale inflation rises to 2.37% in December

Wholesale inflation rises to 2.37% in December

NEW DELHI, Jan 14 (Reuters) – India’s wholesale inflation (INWPI=ECI), opens new tab accelerated in December to 2.37% year-on-year, from 1.89% in November, government data showed on Tuesday, but in line with market expectations. The wholesale inflation rate, a proxy for producer prices, last month came largely in line with the 2.3% forecast by economists in a Reuters poll. Food prices rose 8.89% last month, compared with an 8.92% increase in November, with vegetable prices climbing 28.65% year-on-year, marginally up from a 28.57% rise in the previous month. Cereal prices rose 6.82% in December as against a 7.81% rise a

Naked, ash-smeared Hindu ascetics take holy dips at the Maha Kumbh festival

Naked, ash-smeared Hindu ascetics take holy dips at the Maha Kumbh festival

PRAYAGRAJ, India, January 14, 2025 (AP) — Naked Hindu ascetics and pilgrims took dips in the freezing waters at the confluence of sacred rivers in northern India on Tuesday, in the first major bathing day of the Maha Kumbh festival, which is the largest religious congregation on Earth. Holding tridents, swords, spears and small two-headed drums, ash-smeared Hindu holy men marched at sunrise toward the confluence of the Ganges, Yamuna and mythical Saraswati rivers in the northern city of Prayagraj. The men — with matted dreadlocks and crowns of marigolds — chanted religious slogans praising Hindu deity Lord Shiva and

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