Business
Rupee Hits All-Time Low Of 88.36 Against US Dollar; Likely RBI Intervention Caps Losses
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The rupee fell to 88.36 against the U.S. dollar, eclipsing its previous all-time low of 88.33 hit on September 1
Rupee depreciates against dollar.
The Indian rupee slipped to a record low on Friday as traders remained jittery over news related to U.S. tariffs on India, while likely dollar-selling intervention by the Reserve Bank of India curbed sharper losses, traders said.
The rupee fell to 88.36 against the U.S. dollar, eclipsing its previous all-time low of 88.33 hit on September 1. The currency was last at 88.2750, down 0.1% on the day.
Traders cited strong buying from foreign banks amid speculation about ongoing tariff pressures on India from the U.S.
The “spike on USD/INR was caused by worries of higher tariffs on India but state-run banks stepped in over 88.30 to cap losses, most likely on behalf of the Reserve Bank of India,” a senior trader at a bank said.
Merchant flows are relatively muted today so activity is skewed towards the dollar buying side, the trader added.
MUFG said the rupee could weaken to 89 by the first quarter of calendar year 2026 under the assumption that the steep tariffs remain for now but are eventually lowered to 25% sometime next year.
Foreign portfolio investors have continued to withdraw from Indian equities with net sales of $1.4 billion so far in September, taking the total outflow so far this year to over $16 billion.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – Reuters)
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
September 05, 2025, 13:28 IST
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Sugarcane price hike: Govt raises FRP to Rs 365/quintal for 2026-27, farmers to benefit from higher returns – The Times of India
The government has increased the fair and remunerative price (FRP) of sugarcane by Rs 10 to Rs 365 per quintal for the 2026-27 season beginning October, PTI reported.The decision was approved by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi.“The FRP will be Rs 365/quintal for a basic recovery rate of 10.25 per cent,” Union Minister Ashwini Vaishnaw said after the meeting.The revised FRP is 2.81 per cent higher than the current rate of Rs 355 per quintal for the 2025-26 season.For every 0.1 per cent increase in sugar recovery above 10.25 per cent, the FRP will rise by Rs 3.56 per quintal, providing an incentive to mills for higher efficiency.To safeguard farmers supplying to mills with lower recovery rates, the government has decided that there will be no deduction in FRP for recovery below 9.5 per cent. In such cases, farmers will receive Rs 338.3 per quintal in the 2026-27 season.The production cost of sugarcane for 2026-27 has been estimated at Rs 182 per quintal, making the FRP 100.5 per cent higher than the cost.“Farmers are expected to get more than Rs 1 lakh crore,” Vaishnaw said.The move is expected to benefit nearly one crore sugarcane farmers, along with farm labourers and workers engaged in sugar mills.The FRP has been fixed based on recommendations of the Commission for Agricultural Costs and Prices (CACP) and consultations with state governments and stakeholders.The sugar sector supports the livelihoods of around five crore farmers and their families, and about five lakh workers directly employed in sugar mills, besides those involved in related activities such as transportation.Sugar mills are required to purchase sugarcane from farmers at the FRP or higher.Vaishnaw said the FRP has been increased every year over the past decade, and the latest revision will also support ethanol production from surplus sugarcane.On cane dues, he said that in the 2024-25 season, about Rs 1,02,209 crore, or nearly 99.5 per cent, of the total payable dues of Rs 1,02,687 crore had been cleared as of April 20, 2026.For the ongoing 2025-26 season, Rs 99,961 crore, or 88.6 per cent, has been paid out of total dues of Rs 1,12,740 crore.
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