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Rupee falls 10 paise to 86.66 against U.S. dollar in early trade

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Rupee falls 10 paise to 86.66 against U.S. dollar in early trade


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| Photo Credit: Reuters

The rupee declined 10 paise to 86.66 against the U.S. dollar in early trade on Wednesday (March 19, 2025) amid a firm American currency index ahead of the Federal Reserve’s interest rate decision and prevailing concerns due to global trade tariff moves.

Forex traders said the local currency found cushion due to easing crude oil prices and some inflow of foreign capital in domestic equity markets.

At the interbank foreign exchange, the rupee opened weak at 86.60 and fell to 86.68 before trading at 86.66 against the greenback in initial deals, registering a loss of 10 paise from its previous closing level.

Rupee settled 25 paise higher at 86.56 against the U.S. dollar on Tuesday, gaining for the the third straight session during which it added 66 paise.

The unit had appreciated 24 paise to close at 86.81 against the U.S. dollar on Monday after ending 17 paise up at 87.05 in the preceding session on Thursday.

Forex market was closed on Friday on the occasion of Holi festival.

Meanwhile, the U.S. dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.09% higher at 102.98.

Analysts said the dollar index showed a recovery as market participants were awaiting cues from the U.S. Federal Reserve’s interest rate decision to be announced on Wednesday.

Brent crude, the global oil benchmark, was trading 0.27% lower at $70.37 per barrel in futures trade.

In the domestic equity market, the 30-share BSE Sensex was trading 30.78 points, or 0.04%, higher at 75,332.04 points, while the Nifty was up 12.95 points, or 0.06%, at 22,847.25 points. Both the indices ended Tuesday’s session with sharp gains of more than 1%.

Foreign institutional investors (FIIs) purchased equities worth ₹694.57 crore on a net basis on Tuesday, according to exchange data.

Published – March 19, 2025 10:24 am IST



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Pune company loses Rs 6.5 crore in cyber fraud – Times of India

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April 24, 2025

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Pune company loses Rs 6.5 crore in cyber fraud – Times of India



PUNE: Man-in-the-Middle (MitM) cyber frauds cheated a Pune-based firm, dealing in IT services and imports of dry fruits, out of Rs 6.5 crore on March 27.
MitM is a type of cyber fraud in which an attacker intercepts and relays communication between two parties, making it appear as if they are communicating directly.
As per the police complaint, the 39-year-old company director received an email on the company ID purportedly from a US firm he did business with about a payment request. He initiated the transaction believing the email request was legitimate. But later, when he contacted officials of the other firm, they denied receiving the amount. He checked the email he had received and discovered fraudsters had made two alterations – they changed one letter in the other firm’s email address and its bank account number.





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LIC to expedite claim settlements of Pahalgam terror victims

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April 24, 2025

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From The Hindu, April 25, 1975: Israel’s independence — Soviet offer


Life Insurance Corporation of India (LIC) on Thursday (April 24, 2025) announced that it will expedite claim settlements of Pahalgam terror attack victims in an effort to provide financial relief to their families.

Expressing deep grief over the death of innocent citizens in the terrorist attack, CEO and MD Siddharta Mohanty said LIC has decided to offer concessions to mitigate the hardships of the claimants.

In lieu of death certificates, any evidence in government records of death of the policyholder due to the terrorist attack or any compensation paid by the Union or State governments will be accepted as proof of death. All efforts will be taken to ensure that the claimants are reached out to and claims settled expeditiously to the affected families,” he said in a release.

For assistance, the claimants may contact the nearest LIC branch, division, or customer zones. They may also call LIC call centre at 022 68276827, the company said.

Insurance aggregator Policybazaar said it would like to offer a job to a family member in any of the Policybazaar or Paisabazaar offices located across India or sponsor a child’s education for every impacted Indian family in Pahalgam. “It is a very small gesture towards creating a social security cover for these families,” co-founder Alok Bansal said in a social media post.

Published – April 24, 2025 11:26 pm IST



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Like Voda Idea, now Airtel looks to convert govt’s statutory debt with equity swap – Times of India

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April 24, 2025

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Like Voda Idea, now Airtel looks to convert govt’s statutory debt with equity swap – Times of India


NEW DELHI: In a significant development, Bharti Airtel is understood to have approached the govt for swapping its statutory dues with equity, something that has been done in the case of beleaguered Vodafone Idea.The company is understood to have outstanding govt payment dues of over Rs 70,000 crore, including Rs 40,000 crore of AGR dues.
Sources said that Airtel believes that the measure will help it conserve cash, while also enabling the govt to be a part of a fast-growing enterprise which carries prospects of a growth in share price and resultant valuations. “A proposal to this effect is understood to have been submitted to the department of telecom,” a source said.
Airtel has not officially commented on the matter as yet.
The formula to swap the outstanding statutory payment dues with equity had been initiated by the department of telecom to help the industry, particularly loss-making Vodafone Idea tide over the financial challenges and continue as a going concern.
Airtel’s current market cap is around Rs 10.5 lakh crore, as per the details on the Bombay Stock Exchange. The company will need to transfer around 6% equity to the govt to clear its statutory dues. Shares of Airtel closed the day at Rs 1,845 on the BSE, down 2%.
Market analysts believe that govt has “a chance of realising positive returns” from the Airtel equity, considering that the company has been growing in profitability. This will be unlike Vodafone Idea where the value of its stake value has so far only fetched negative returns with the company’s scrip remaining below Rs 10 for most of the period of govt’s holding.
Govt had converted the Voda Idea statutory debt into equity at a price of Rs 10 per share, which is the face value. The current price of the company’s share is Rs 8, down one per cent at close on Thursday.





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