FED hikes rates, pressure on rupee

NEW DELHI: The US Federal Reserve raised its main interest rate by 75 basis points, its biggest hike in 28 years, to rein in inflation, even if this means slower growth. There will now be renewed pressure on the rupee as well as the stock market when trading opens on Thursday. The US dollar immediately began gaining after the Federal Reserve raised its target interest rate and the greenback was already up 0.35% against six major currencies. The rupee, being weaker than the six currencies, will be unable to withstand the pressure to sell. — TNS

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Jaishankar holds talks with Spanish counterpart

New Delhi: External Affairs Minister S Jaishankar on Wednesday held talks with his Spanish counterpart Jose Manuel Albares Bueno, focusing on cooperation in areas of defence and trade. PTI

SC to hear plea against UP demolitions today

New Delhi: The Supreme Court will hear on Thursday the pleas filed by Jamiat Ulama-i-Hind, seeking directions to UP against demolition of properties of the alleged accused in the recent violence.