The Indian currency rupee continued to fall against US$ on the Interbank Foreign market on Friday on sustained dollar demand from foreign banks following steep fall in equity markets amidst poor supply of dollars.
The rupee resumed higher at 48.70/71 per dollar as against the Thursday’s closing level of 48.83/84 in the early trade due to fresh selling of dollars from banks. However, it retracted downwards at the fag-end of the day at Rs 48.88/89, showing a loss of five paise, on renewed buying from banks on behalf of oil companies due to rise in crude oil prices.
The rupee moved in a range of Rs 48.56 and Rs 48.96. The Indian currency fell by 79 paise in last three days. The US dollar short-term funding costs eased for the fourth day in Asia on Friday, although stress remained in several local markets due to heightened counter party and term risks despite the cash pumped in by governments. Asian markets were mixed as worries about a slowing global economy kept investors on sidelines.
“Oil prices rose over $2 in Asia in a technical bounce on Friday, after falling below $70 for the first time in more than a year, on worries over falling demand,” analysts said.
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bush has only 3 months left as president, and he is likely to do something special and serious on on the global financial crisis. This news is not yet conformed by white house. President will discuss ideas to prevent such current financial crisis from recurring in the future.
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At least four people were killed on Thursday in a suicide blast in the town of Charsadda in northwest Pakistan. Two policemen are included in dead list. On same day Pakistan was celebrating their holy festival Eid-ul-Fitr.
Twin suicide bombings near Shiite mosques in Baghdad, Iraq killed at least 22 people and many are injured. We must mention that today is most famous festival of Muslims, Eid ul-Fitr.
According to Security officials, a suicide bomber blew himself up in Jadida, a Shiite district of southern Baghdad, killing 12 people and wounding 30.
In the second attack, a bomber slammed his explosives-filled car into an Iraqi military armoured vehicle at a checkpoint near a mosque in the nearby neighbourhood of Zafaraniyah.
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All public places across India will be no smoking zones from today.The ban has mixed response from smokers and non-smokers. However there was no very strict rules followed by police.
Two terrorists were killed and one Delhi police personnel died in Jamia Nagar of south Delhi.
After recent serials bomb blasts in India, Indian Government is planing to setup a Federal Agency to fight againt terrorism more effectively.Minister of State in the Prime Minister’s Office Prithviraj Chavan said that India will soon unveil “more focussed and dramatic measures” to battle terrorism by setting up a federal investigating agency or by restructuring the Central Bureau of Investigation (CBI).
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According to National Security Adviser (India) M K Narayanan SIMI is recruiting at least 20 people daily into its various wings spread across the India. The Students Islamic Movement of India (SIMI) is a banned group of India. SIMI has been renamed as “Islamic Movement”.
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“Pakistan is using money the United States gave it to fight terrorism to ‘prepare for a war against India”, United States Democratic presidential candidate Senator Barack Obama told this to a American television commentator Bill O’Reilly.
US has always given heavy economical fund to Pakistan for military, economic, and development activities in the hope that Pakistan would use part of that money to fight against terrorism. After the 9/11 attacks, the US gave Pakistan over $10.5 billion (about Rs 42,000 crore).
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