Rupee weakens for third day on Iran-Israel conflict; opens lower at 86.53/$

The Indian Rupee fell for the third consecutive session as tensions in West Asia and the US Federal Reserve Chair's warning of more inflation ahead weighed on the currency.
The domestic currency depreciated 6 paise to open at 86.53 against the dollar, the lowest level since April 9 this year, according to Bloomberg. The currency has fallen by 1.13 per cent so far this month.
The Indian rupee, which closed lower yesterday, is likely to open flat as demand for the US dollar from oil importers and foreign portfolio investors remains elevated, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. "The Reserve Bank of India (RBI) was seen selling dollars at 85.35 and later at 85.55 to curb volatility."
With uncertainty persisting, the rupee may stay under pressure in the coming days, Bhansali said. "For the day, the expected trading range is between 86.25 and 86.75, with focus on developments in the Middle East and on the trade front."
As missile exchanges between Iran and Israel continued, Iranian Supreme Leader Ayatollah Ali Khamenei rejected US President Donald Trump's calls for unconditional surrender. 'The Americans should know that any US military intervention will undoubtedly be accompanied by irreparable damage,' Khamenei warned.
Trump, meanwhile, said on Wednesday that his patience with Iran had run out, with Bloomberg reporting that US officials are preparing for a possible strike on Iran in the coming days. Crude oil prices remained volatile after these developments. Brent crude price was down 0.37 per cent at $76.42 per barrel, while WTI crude prices were lower by 0.19 per cent at 75.00, as of 9:08 AM IST.
Meanwhile, the Fed left rates unchanged and downgraded its growth estimates while projecting higher inflation. 'The cost of the tariff has to be paid, and some of it will fall on the end consumer,' Powell said. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.14 per cent at 99.04.
"The currency is expected to remain volatile in the range of 85.75 to 86.85, with global risk factors and trade uncertainties exerting pressure," according to Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities. However, strength in domestic business activity and expectations of a good monsoon could offer stability to the rupee, he added.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

The Hindu

15 minutes ago

• The Hindu

Iran-Israel fighting distorted by tech-fuelled misinformation

AI deepfakes, video game footage passed off as real combat, and chatbot-generated falsehoods; such tech-enabled misinformation is distorting the Israel-Iran conflict, fuelling a war of narratives across social media. The information warfare unfolding alongside ground combat, sparked by Israel's strikes on Iran's nuclear facilities and military leadership, underscores a digital crisis in the age of rapidly advancing AI tools that have blurred the lines between truth and fabrication. The surge in wartime misinformation has exposed an urgent need for stronger detection tools, experts say, as major tech platforms have largely weakened safeguards by scaling back content moderation and reducing reliance on human fact-checkers. After Iran struck Israel with barrages of missiles last week, AI-generated videos falsely claimed to show damage inflicted on Tel Aviv and Ben Gurion Airport. The videos were widely shared across Facebook, Instagram and X. Using a reverse image search, AFP's fact-checkers found that the clips were originally posted by a TikTok account that produces AI-generated content. There has been a "surge in generative AI misinformation, specifically related to the Iran-Israel conflict," Ken Jon Miyachi, founder of the Austin-based firm BitMindAI, told AFP. "These tools are being leveraged to manipulate public perception, often amplifying divisive or misleading narratives with unprecedented scale and sophistication." GetReal Security, a U.S. company focused on detecting manipulated media including AI deepfakes, also identified a wave of fabricated videos related to the Israel-Iran conflict. The company linked the visually compelling videos, depicting apocalyptic scenes of war-damaged Israeli aircraft and buildings as well as Iranian missiles mounted on a trailer, to Google's Veo 3 AI generator, known for hyper-realistic visuals. The Veo watermark is visible at the bottom of an online video posted by the news outlet Tehran Times, which claims to show "the moment an Iranian missile" struck Tel Aviv. "It is no surprise that as generative-AI tools continue to improve in photo-realism, they are being misused to spread misinformation and sow confusion," said Hany Farid, the co-founder of GetReal Security and a professor at the University of California, Berkeley. Farid offered one tip to spot such deepfakes: the Veo 3 videos were normally eight seconds in length or a combination of clips of a similar duration. "This eight-second limit obviously doesn't prove a video is fake, but should be a good reason to give you pause and fact-check before you re-share," he said. The falsehoods are not confined to social media. Disinformation watchdog NewsGuard has identified 51 websites that have advanced more than a dozen false claims ranging from AI-generated photos purporting to show mass destruction in Tel Aviv to fabricated reports of Iran capturing Israeli pilots. Sources spreading these false narratives include Iranian military-linked Telegram channels and state media sources affiliated with the Islamic Republic of Iran Broadcasting (IRIB), sanctioned by the US Treasury Department, NewsGuard said. "We're seeing a flood of false claims and ordinary Iranians appear to be the core targeted audience," McKenzie Sadeghi, a researcher with NewsGuard, told AFP. Sadeghi described Iranian citizens as "trapped in a sealed information environment," where state media outlets dominate in a chaotic attempt to "control the narrative." Iran itself claimed to be a victim of tech manipulation, with local media reporting that Israel briefly hacked a state television broadcast, airing footage of women's protests and urging people to take to the streets. Adding to the information chaos were online clips lifted from war-themed video games. AFP's fact-checkers identified one such clip posted on X, which falsely claimed to show an Israeli jet being shot down by Iran. The footage bore striking similarities to the military simulation game Arma 3. Israel's military has rejected Iranian media reports claiming its fighter jets were downed over Iran as "fake news." Chatbots such as xAI's Grok, which online users are increasingly turning to for instant fact-checking, falsely identified some of the manipulated visuals as real, researchers said. "This highlights a broader crisis in today's online information landscape: the erosion of trust in digital content," BitMindAI's Miyachi said. "There is an urgent need for better detection tools, media literacy, and platform accountability to safeguard the integrity of public discourse."

NDTV

16 minutes ago

• NDTV

Mahindra Scorpio N Likely To Get ADAS, Panoramic Sunroof Soon

Mahindra & Mahindra launched the Scorpio N in the Indian market in 2022. Since then, the SUV has received different updates and editions to keep it fresh for the consumers. Reports suggest that the automaker is planning on further updating the SUV with the addition of new features. These are the elements that are in demand and are available on most SUVs. The importance of these features can be understood by the fact that even Mahindra has been ensuring them in its various models. Starting with the details, the updated version of the SUV will come with new features for the safety and comfort of the occupants. It is to be noted that these revisions are likely to be incorporated without any changes in design. However, the brand might offer a new variant to accommodate them. With these changes, the SUV might be launched in the country around the festive season to ensure it gets good traction in the market. The first element to focus on is the inclusion of Level 2 ADAS features. This includes lane keep assist, high beam assist, lane departure warning, auto emergency braking, and more. Along with this, the brand is likely to add a panoramic sunroof to uplift the feel of the cabin, replacing the single-pane sunroof. These features have long been on offer on the XUV700 and have been included on the more recent models like XUV3XO and the Thar Roxx. Mechanically, there will be no changes in the Mahindra Scorpio N. It will continue to be sold with the 2.0-litre turbo petrol and 2.2-litre diesel engine, with options of MT and AT. Presently, it is sold at a starting price of Rs 13.99 lakh (ex-showroom) and goes up to Rs 25.15 lakh (ex-showroom) for the most expensive variant.

Time of India

19 minutes ago

• Time of India

Pakistan caught red-handed again: FATF's new report exposes the dirty tricks of Islamabad

Mis-declaration and dual-use materials raise proliferation concerns April terror attack in Pahalgam linked to financial networks Live Events India calls out state-sponsored terrorism in risk assessments FATF case echoes past proliferation network run by AQ Khan (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel In a striking revelation, the Financial Action Task Force (FATF) has cited a 2020 case where Indian authorities intercepted a shipment of missile-related equipment headed for Karachi, exposing Pakistan's use of mis-declared dual-use goods linked to its ballistic missile programme. The global watchdog's latest report highlights how the consignment, traced to Islamabad's National Development Complex, was disguised in shipping documents — a move seen as part of Pakistan's ongoing efforts to bypass international controls and fuel to the FATF report, Indian investigators stopped a cargo ship carrying autoclaves — specialised equipment used for high-energy materials and missile motor components. The shipment had been falsely declared in its documentation. The Bill of Lading, submitted with the consignment, showed a direct connection between the importing party and Pakistan's National Development Complex, a facility known for developing long-range ballistic missiles. This detail was first reported by The Times of India (TOI).FATF noted that such dual-use goods can support missile and weapons development programmes when exported without proper declarations. The watchdog cited the Pakistan-linked case as a key example of how weak export controls and mis-declarations can lead to violations of international case also reinforces FATF's growing concerns around the global trade in proliferation-sensitive goods. The watchdog said this incident illustrates how state-linked entities may attempt to bypass regulations by disguising the nature and end use of sensitive its broader statement, FATF also referred to a terror attack in Pahalgam, Kashmir, on April 22, which resulted in the deaths of 26 people. 'The April 22 attack in Pahalgam, Kashmir, which claimed 26 lives, would not have been possible without financial support,' the FATF said in its report. It added that a detailed document covering terror financing cases — including those linked to state-sponsored actors — will be released told PTI that the FATF's decision to publicly mention the Kashmir incident marked a rare but clear signal from the international body. Indian officials interpreted the move as growing recognition of the financial networks behind cross-border terror attacks. According to Indian sources, the Pahalgam attack was carried out by militants who were trained in National Risk Assessment has identified terrorism financing from state actors — with Pakistan prominently named — as a significant national security threat. The FATF currently monitors 24 countries on its 'grey list' for strategic gaps in anti-money laundering and counter-terrorism finance systems. Countries under grey-listing face increased scrutiny from international financial institutions and risk reduced investor this context, Indian authorities are preparing a formal dossier highlighting Pakistan's compliance failures. The document is expected to be presented during the Asia Pacific Group meeting on August 25 and the FATF plenary session on October 20. Officials have confirmed that India will push for Pakistan's re-inclusion in the grey list, citing new latest focus on proliferation threats also brings back attention to earlier instances of nuclear material trafficking tied to Pakistan. One of the most significant of these was the network operated by Abdul Qadeer Khan, widely known as the 'father of Pakistan's nuclear bomb.'As reported by TOI, Khan began acquiring uranium enrichment technology from Europe in the 1970s. He later used this knowledge to help build Pakistan's nuclear programme and exported the same expertise to Iran, North Korea and Libya through a global black-market network. 'He reportedly earned $100 million from Libya alone,' the report AQ Khan network was exposed in 2003 and was found to have operated through a complex web of intermediaries across more than 20 countries. The fallout from the operation led to years of global concern about nuclear proliferation risks, and raised serious questions about oversight and control within Pakistan's strategic institutions.(With inputs from TOI)