Regional
The victim had been identified as Ramia Das. She was immediately rushed to the Gauhati Medical College and Hospital (GMCH) for treatment.
Digital Desk: A woman was electrocuted near the under-construction
The risk-off mode continues to dominate the market as major recession fears were ignited after the Chinese retail data for April showed a contraction of 11%, the biggest fall since March 2020.
Digital Desk:
color:#0E101A">The Rupee weakened sharply against the US dollar, hitting a
fresh all-time intraday low, as weak economic data from China sparked fears of
a global recession, eroding appetite for riskier emerging market currencies,
dealers said.
color:#0E101A">The partially convertible Rupee was the last trading at
77.6790/$1, weaker than the previous all-time intraday low of 77.6250/$1 on May
12.
color:#0E101A">The Indian currency had opened at 77.8060/$1 as against
77.4500/$1. However, on May 9, the Rupee settled at a record closing low of
77.4650/$1.
color:#0E101A">The risk-off mode continues to dominate the market as major
recession fears were ignited after the Chinese retail data for April showed a
contraction of 11%, the biggest fall since March 2020.
color:#0E101A">Coupled with the US Federal Reserve's aggressive plan to raise
interest rates, the global wave of risk aversion by the weak Chinese data
ensured that the dollar index hovered near 20-year highs.
color:#0E101A">The US dollar index, which measures the greenback against six
major rival currencies, was last at 104.18, as against 104.17 at the previous
close. So far, in 2022, the index has surged 9 percent.
color:#0E101A">Foreign institutional investors (FIIs) have been persistently
offloading Indian equities over the last few months, with their net sales at a soaring
Rs 1.52 lakh crore so far in 2022.
color:#0E101A">While currency traders expect the RBI to continue intervening in
the foreign exchange market to restraint unduly volatility in the Rupee, the
central bank is likely to permit an orderly depreciation in the currency, given
the macroeconomic fundamentals, dealers added.
color:#0E101A">Pabari stated that, domestically, at a time when global risk-off
sentiments, greater oil prices, and FII's outflows are weighing on the Indian
Rupee, the RBI is supporting the currency by intervening across markets as the
forex reserves decline for yet another week by $1.77 billion to $595.95 billion.
color:#0E101A">Its position on inflation and interest rates still lacks clarity
after losing credibility. Still, it has made it very clear to prevent the
one-way slide in the Indian Rupee. Overall, we expect that the RBI will allow a
steady slip in the currency, and we expect the pair to trade in the wide range
of 76.50-78.50 in short to medium term, "Pabri added.
color:#0E101A"> 
Leave A Comment