Rupee Falls to 86.57; Regional Parties Responsible For Uncertainty in INDIA bloc; India’s Economy to be Weaker This Year, says IMF Chief
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Founded by Sidharth Bhatia, Pratik Kanjilal, Tanweer Alam, Seema Chishti, Sushant Singh, MK Venu, and Siddharth Varadarajan | Contributing writer: Kalrav Joshi, with additional inputs by Anirudh SK
Snapshot of the day
January 13, 2025
Sidharth Bhatia
The rupee today experienced its most precipitous fall in 23 months when it reached 86.5825 to the dollar, Jaspreet Kalra and Nimesh Vora report – it later closed at 86.5750. Part of the reason why is a recent rally in the dollar index. Kalra and Vora cite traders as saying that the RBI intervened today by selling dollars in order to limit the rupee’s fall but that it did so less aggressively than in previous occasions of large declines in the currency.
Cartoonist Manjul has something to say…
(Credit: Manjul.)
A mob torched a temporary camp of the Assam Rifles in a Naga-majority area of eastern Manipur’s Kamjong district over the weekend. Ngathingkhui Jagoi reports that locals alleged “continuous frisking” by the Rifles and were further disgruntled by the paramilitary force’s not allowing a batch of timber to pass along the Imphal-Myanmar road. When locals gathered in large numbers to protest, the Rifles fired shots in the air and used tear gas, and then the mob destroyed the aforementioned camp, Jagoi cites sources as saying. The Ukhrul Times cites the Rifles as saying it stopped the timber shipment because the vehicle carrying it did not have the necessary documents and that its personnel responded after the crowd turned violent.
Kristalina Georgieva, managing director of the IMF, predicted that India’s economy would be
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