Tuesday, September 01
The Indian rupee dropped to an all-time low on Tuesday, with sustained flow pressures and the lack of a US-India trade deal overshadowing robust domestic fundamentals, prompting the central bank to step in the prevent the currency from breaking past the 90 level. The rupee was down 0.28% at 89.7975 per dollar, inching past Monday's all-time low of 89.7575. It briefly fell to 89.85, at risk of slipping past the 90 level before the Reserve Bank of India intervened to stem the decline. "We expect RBI to actively intervene to cap USD/INR," analysts at MUFG Bank said in a note. The currency is losing ground despite robust economic growth in India in the quarter through September and low inflation that would typically lend support to the currency. Those fundamentals have been set aside by inves
A Thiruvananthapuram-bound Air India Express flight from Riyadh made an emergency landing at Mangaluru International Airport (MgIA) after a passenger onboard developed a sudden medical complication, officials said on Tuesday.Flight IX 522, which was scheduled to fly directly to Thiruvananthapuram, alerted the Mangaluru airport's Operations Control Centre late on Monday about the passenger--reported to be in his late 30s--requiring urgent medical attention, they said.Airport authorities immediately activated emergency protocols and coordinated with the medical team, CISF, immigration and customs to ensure rapid response, officials said.According to officials, upon landing, the airport's medical personnel boarded the aircraft, assessed the passenger's condition and arranged for immediate tra
