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Rupee hits record low of 95.63 against US dollar in early trade

Mumbai, May 12 (PTI) The rupee depreciated 35 paise to a record low of 95.63 against the US dollar in early trade on Tuesday, after US President Donald Trump said that the ceasefire with Iran was on life support with hopes for a deal with the country fading, triggering a surge in crude oil prices. Market sentiments remained dominated by fears that the 10-week-old conflict could further tighten global supply, particularly after Trump rejected Tehran’s latest response to a US-backed peace proposal, calling it totally unacceptable. At the interbank foreign exchange market, the rupee opened at 95.57 against the US

Trump says he’ll move to suspend federal gasoline tax. He can’t do it on his own

WASHINGTON, May 12, 2026 (AP) — President Donald Trump said Monday he will move to suspend the federal tax on gasoline to help Americans shoulder surging fuel prices caused by the Iran war. The president cannot suspend the federal tax on his own. Congress would have to approve the move. Lawmakers from both parties have pushed for a gas-tax suspension, saying it would provide much-needed relief for families and businesses that rely on their cars and trucks to get to work and school and run everyday errands. As of Monday, the average national gas price was $4.52 a gallon, according

Trump is getting another medical checkup at the end of May, the White House says

WASHINGTON, May 12, 2026 (AP) — President Donald Trump is scheduled to see doctors for a medical and dental checkup this month — his fourth publicized visit to medical experts since returning to office — in what the White House describes as an annual physical and regular preventive care. Trump, who turns 80 next month and was the oldest person elected U.S. president, will see his doctors at the Walter Reed National Military Medical Center on May 26, the White House said in a brief statement Monday evening. The president’s health has been the subject of tremendous scrutiny, so much

Stung by Iran war, Trump heads to China in need of wins

BEIJING, May 12 (Reuters) – A year ago, U.S. President Donald Trump predicted that towering trade tariffs would bring America’s main economic rival to heel. He heads to China this week with that ambition blunted by court rulings, narrowing his goals to a ​few deals on beans, beef and Boeing jets, and enlisting China’s help to resolve his unpopular Iran war, political analysts say. The modest expectations for Trump’s May 14-15 meetings with Xi Jinping – the first since they ‌paused a bruising trade war in October – underscore how Trump’s bombastic approach has failed to deliver an advantage ahead

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