Image used for representational purposes only. S. S. dollar and weak domestic markets also pressured the rupee.
Image used for representational purposes only. | 73 (provisional) against the U.S. dollar on Tuesday (May 26, 2026), on renewed geopolitical tensions in West Asia and a rise in crude oil prices.Forex traders said a strong U.S. dollar and weak domestic markets also pressured the rupee. At the interbank foreign exchange market, the rupee opened at 95.43 against the U.S. dollar, and touched an intra-day high of 95.33 and a low of 95.76 against the American currency.At the end of Tuesday's (May 26) close, the rupee was quoted at 95.73 (provisional), down 47 paise from its previous closing. On Monday (May ), the rupee gained 34 paise to close at 95.26 against the U.S. dollar with the RBI selling dollars and keeping the rupee well bid at all upper levels."We expect the rupee to trade with a negative bias on uncertainty between the U.S. and Iran and concerns over military action in the West Asia."However, softening of crude oil prices from higher levels may support the rupee at lower levels. USD-INR spot price is expected to trade in a range of 95.20 to 95.85," said Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan.Forex traders said the rupee remains vulnerable to rising crude oil prices and the strength of the American currency in the overseas market.The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.05, down 0.19%.Brent crude, the global oil benchmark, was trading up 3.43% at $99.94 per barrel in futures trade after reports that the U.S. had carried out fresh attacks against Iran, offsetting hopes of a deal to reopen the Strait of Hormuz.U.S. President Donald Trump on Monday (May 25) said negotiations with Iran to end the war were progressing "nicely", but officials pointed out that a final decision may take some time due to the complex communication networks Tehran deploys to consult with its supreme leader.On the domestic equity market front, Sensex dropped 479.26 points to settle at 76,009.70, while the Nifty declined 118 points to 23,913.70.Foreign institutional investors turned net buyers and purchased equities worth ₹821.75 crore on Monday (May 25), according to exchange data. Published - May 26, 2026 04:22 pm IST
Writing about workers’ rights and reporting on labour issues is part of journalism, not a crime in a democracy, said Press Club of India. File | The PCI urged the UP government to withdraw the move against Mr. Verma and free the senior journalist from detention, stating that the UP police invoked the NSA after nearly a month of his arrest.“The provision of the draconian Act has also been invoked against an activist, Akriti Chauhan. Mr. Verma, former chief of the Lucknow news bureau of the United News of India (UNI), and his magazine, have been consistently writing about issues faced by labours in the country, including those faced by the protesting workers in Noida,” it said.“Writing about workers’ rights and reporting on labour issues is part of journalism, not a crime in a democracy. We outrightly condemn the misuse of NSA against the senior journalist. Mr. Verma was picked up on April 19 on the charge of provoking the workers in Noida to hold a protest to demand wage hike and better working conditions,” said the PCI.It noted that Verma’s colleagues have alleged that a large contingent of UP Police had also arrived at the Delhi office of the magazine to intimidate them.“In 2021, an Indian Express report had held up that the Allahabad High Court had red-flagged 94 out of 120 habeas corpus petitions in which the NSA was invoked, suggesting that the law was misused by investigating agencies,” it added. Published - May 15, 2026 10:25 pm IST
Federal prosecutors in New York on November 21, 2024 indicted Adani Group Chairman Gautam S. Adani, his nephew Sagar Adani, and six others on multiple counts of fraud. File | S. prosecutors are set to drop charges against billionaire Gautam Adani, who was accused of paying hundreds of millions of dollars of bribes and hiding the payments, The New York Times reported Thursday (May 14, 2026).With a business empire spanning coal, airports, cement and media, the chairman of Adani Group has been rocked in recent years by corporate fraud allegations and a stock crash.A close acolyte of Prime Minister Narendra Modi, he was alleged in November 2024 to have agreed to pay more than $250 million in bribes to Indian officials for lucrative solar energy supply contracts.The Times said the move to abandon the charges, brought under U.S. president Joe Biden’s administration, came after Adani hired new lawyers led by Robert Giuffra, one of President Donald Trump’s personal lawyers.The Times reported that at a meeting between defence and prosecution at the Department of Justice in April, Giuffra presented slides, including one that said that if prosecutors dropped the charges, Mr. Adani would be willing to invest $10 billion in the American economy and create 15,000 jobs.Prosecutors previously detailed how one of Mr. Adani’s alleged accomplices meticulously tracked payments, using his phone to log the bribes offered to officials.The Department of Justice did not respond to an AFP call for comment. Published - May 14, 2026 10:42 pm IST
Discussion (0)