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As the dollar reigns supreme, the rupee surpasses 78 per dollar for the first time ever

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As the dollar reigns supreme, the rupee surpasses 78 per dollar for the first time ever

The rupee breached the 78 against the dollar for the first time ever, after closing at its weakest level of 77.93 in the previous session. Federal Reserve tightening expectations after US inflation climbed to four-decade highs has pressured the rupee’s value.

Rupee slips 36 paise to record low of 78.29 against the US dollar in early trade on Monday. The rupee had opened at 78.20, then lost ground to quote at its record low level of 77.29 — its lowest level ever recorded. Rupee hits new record low of 78.29 against the US dollar. After closing at its weakest level of 77.93 in the previous session. Traders blame weak Asian currencies, a lacklustre trend in domestic equities and persistent foreign capital outflows for the fall.

Rupee hits new record low of 78.29 against the US dollar. After hitting 77.93 in the previous session, the rupee slipped 36 paise. Traders blame weak Asian currencies, a lacklustre trend in domestic equities and persistent foreign capital outflows for the fall.

The dollar, as a result, climbed to a near four-week high against a basket of currencies after the Fed signalled more rate hikes may be on the way.

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.

Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.

Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.

Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.

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The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.

BCCI’s tribute

Additionally, the BCCI issued a statement about his demise.

“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.

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His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.

Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.

Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.

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