The rupee opened on a weak note and slumped to an all-time low of 96.25 in early trade on Monday, as elevated crude oil prices, global uncertainty, and a stronger dollar continue to remain key risks for the domestic unit.

Forex traders said higher crude oil prices, a stronger US dollar, and ongoing geopolitical tensions have together created a difficult environment for emerging market currencies, and the rupee is now clearly reflecting that stress.

Oil prices extended gains on Monday as efforts to end the US-Israeli war on Iran appeared ​to have stalled, after a nuclear power plant ​in the United Arab Emirates came under attack and as US ‌President Donald Trump is expected to discuss military options on Iran.

Brent crude futures climbed $1.44, or 1.32%, to $110.70 a barrel by 2337 GMT after touching the highest since May 5 earlier in the session.

India is staring at an intense spell of heat over the coming week, with the India Meteorological Department (IMD) warning of severe heatwave conditions in parts of Rajasthan and Uttar Pradesh even as scattered thunderstorms and heavy rainfall continue across southern and northeastern states.

According to the IMD forecast, heatwave conditions are set to spread across large swathes of northwest, central and eastern India between May 16 and 21 as the mercury continues to rise over the coming days.

Prime Minister Narendra Modi on Friday greeted the people of Sikkim on the occasion of Statehood Day and said the Centre would continue supporting the Himalayan state's growth and development trajectory.

In a post on X, the Prime Minister extended his wishes as Sikkim marked its 50th Statehood Day celebration this year.

India’s foreign exchange reserves increased by $6.29 billion to $696.99 billion during the week ended May 8, driven by a rise in gold reserves, latest data from the Reserve Bank of India showed. Gold reserves increased by $5.64 billion during the reported week.

Gold prices increased by 2.11 per cent to $4,715/oz during the reported week.

Air India's transformation is going to be a "long game, and there is no shortcut", its co-owner, Singapore Airlines' CEO Goh Choon Phong, said on Friday as he mentioned that the Indian carrier is facing various challenges, including Pakistan airspace closure and rupee depreciation.

At a briefing to discuss Singapore Airlines (SIA) Group's financial results for the 2025-26 financial year, he also said that Air India has "largely external challenges".

The hike in petrol and diesel prices by ₹3 per litre for both fuels could be the first of a few more rounds of hikes by the oil marketing companies (OMCs), suggest analysts, who expect the markets to remain range-bound in the next few weeks in this backdrop.

The upward revision in prices for both fuels, said Jyotivardhan Jaipuria, founder and managing director at Valentis Advisors, was already expected though the quantum of ₹3 per litre seems too less.

The West Bengal government has suspended three Indian Police Service (IPS) officers over serious administrative lapses, negligence in registering an FIR and investigating the RG Kar rape and murder incident.Chief Minister Suvendu Adhikari on Friday made several significant announcements regarding the law-and-order situation in the state, illegal activities inside correctional homes, and the investigation into the RG Kar incident. Chief Minister Adhikari announced strict action against three IPS officers over serious administrative lapses, negligence in FIR registration and investigation, and allegations of offering bribes to the victim's family.

United Spirits Ltd., the Indian subsidiary of global liquor major Diageo, has revised the composition of the investor consortium involved in acquiring a stake in the company that owns the Royal Challengers Bengaluru (RCB) franchise in IPL. Importantly, while the structure of the buying group has changed, the financial terms and overall economics of the high-value transaction remain unchanged.

India is ready to extend all possible support to bring peace in West Asia, Prime Minister Narendra Modi said on Friday during his talks with UAE President Sheikh Mohammed bin Zayed Al Nahyan.

The Modi-Al Nahyan meeting took place shortly after the prime minister landed in the Gulf nation in the first leg of his five-nation tour that also includes four European countries.

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