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Daily News Podcast: Rupee hits new all-time low against US dollar

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BusinessToday.In | September 4, 2018

Rupee hits new all-time low against US dollar

The Indian rupee slumped 16 paise against the US dollar to trade at a life-time low of 71.37 in early trade on Tuesday. The fall in Indian currency is due to the strong demand for the US currency. At the Interbank Foreign Exchange, the local currency opened at a record low of 71.24 against a dollar, down from its previous close of 71.21, and weakened further to trade at a fresh low of 71.37, down 16 paise.
Airlines' losses could reach up to $1.9 billion this year: CAPA report

Airlines in India could post a combined loss of up to $1.9 billion this financial year, aviation consulting firm CAPA India said in a report on Monday evening. The report said full-service carriers like Air India and Jet Airways might see huge losses due to rising fuel costs, depreciation of the rupee and low airfares. The loss forecast for the 12 months ending March 31 is up from an estimated $430 million to $460 million.
CAPA said that barring Interglobe Aviation Ltd's IndiGo, none of the airlines have strong enough balance sheets to comfortably withstand higher costs and lower yields.
Delhi, UP, other states may face power disruption due to coal supply issues
Power supply to northern states like Delhi, Uttar Pradesh and a few in eastern India - Bihar, Jharkhand and West Bengal may face disruption as fuel supply to 4,200 MW of generation capacity that feeds these states has fallen sharply heightening the risk of a shutdown from events like heavy rain. According to reports, Coal India's supply has fallen to 40,000 tonnes or less a day from about 55,000 tonnes in states like Jharkhand due to heavy rains.
Facebook, Instagram, WhatsApp down in India, US
Facebook and its other social media platforms Instagram and WhatsApp temporarily went down late on Monday in India, the US, Canada and various other countries. In a statement issue later, Facebook said a networking issue has led to the temporary outages.
Within an hour of the outage across the social media platforms, thousands took to Twitter to complain. Some users reported having problems signing in, posting, commenting and updating their newsfeeds on Facebook. Others reported having issues as Facebook messenger would not load. On Instagram, users said they couldn't access recent posts or messages while those using WhatsApp said they couldn't connect to the service or send and receive messages. In an error message on its site, Facebook said: "Your account is currently unavailable due to a site issue. The hashtag #FacebookDown was trending on Twitter.
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