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Rupee falls 28 paise to 94.77 against US dollar in early trade

A man counts Indian rupee currency notes inside a shop in New Delhi, India. (Photo: Reuters)

Mumbai, May 7 (PTI) The rupee depreciated 28 paise to 94.77 against the US dollar in early trade on Thursday as market sentiment took a dramatic turn after reports emerged that the US and Iran are discussing a 14-point Memorandum of Understanding (MOU) aimed at reducing tensions and reopening negotiations. Forex traders said Brent oil prices, which had fallen to USD 98 on the US-Iran peace deal, edged slightly higher to USD 101 per barrel after investors weighed the prospects for a Middle East peace deal. Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties further dented

Vijay says no to CM convoy before swearing-in: TVK

Chennai, May 7 (PTI) TVK chief Vijay declined to accept the police convoy vehicles provided to Tamil Nadu chief minister as per protocol until his swearing-in, the party said on Thursday. A police official confirmed that the CM convoy vehicles provided to him “as per protocol” following the announcement of the Assembly election results were returned and have not been withdrawn. The official also said that arrangements were in place for the swearing-in ceremony. The Tamilaga Vettri Kazhagam (TVK) clarified that its party founder Vijay had “personally requested that the convoy vehicles be returned”. In a statement here, the TVK

Bengal: Murder of Suvendu aide sparks political row; BJP, TMC trade barbs

Kolkata, May 7 (PTI) The murder of a close aide of BJP leader Suvendu Adhikari triggered political confrontation in West Bengal on Thursday, with the saffron camp accusing the TMC of fostering “lawlessness” and the Mamata Banerjee-led party rejecting the charge. In a shocking development within 48 hours of the assembly poll verdict, Chandranath Rath, Adhikari’s executive assistant, was shot dead in a brazen attack at Madhyamgram on Wednesday night, escalating tension in the area. According to preliminary information, motorcycle-borne assailants intercepted Rath’s vehicle near Doltala in Madhyamgram around 10.30 pm, forced it to stop and opened fire at point-blank

Trump administration sows confusion as it tries to reopen Strait of Hormuz

WASHINGTON, May 7, 2026 (AP) — The Trump administration’s approach to the Iran war over the past 24 hours has pinballed from declarations that a tenuous ceasefire was holding and military operations were over to new threats of bombing the Islamic Republic. Tuesday started with Defense Secretary Pete Hegseth explaining how the U.S. military was protecting stranded ships so they could traverse the Strait of Hormuz. He insisted it was a defensive operation and the truce was still in place even though Iran had launched missiles and drones at U.S. forces, which sank Tehran’s small attack boats. That afternoon, Secretary

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