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This evening, the rupee closed unchanged at 84.08 against the dollar.At the end of the trading session, the Sensex rose 602.75 points or 0.76 percent to close at 80,005.04 and the Nifty rose 158.40 points or 0.66 percent to close at 24,339.20.Read more:- Farmers' Diwali was dull, heavy rain caused loss of 15 lakhs to cotton crop

Early trading of the rupee against the US currency is limited.The rupee witnessed range-bound trade and appreciated by just 1 paisa to 84.07 against the US dollar in initial deals on Monday, weighed down by significant foreign fund outflows and the strength of the American currency in the overseas market.Read More :> India’s Cotton Output Likely to Drop 7.4% Due to Excessive Rainfall

This evening, the rupee ended the day 1 paisa down versus the US dollar at 84.08At the close of trade, the BSE Sensex closed down 662.87 points or 0.83 per cent at 79,402.29. At the same time, NSE's 50-share index Nifty closed down 218.60 points or 0.90 percent at 24,180.80.Read More :-  India’s Cotton Output Likely to Drop 7.4% Due to Excessive Rainfall

In early trade, the rupee falls flat against the US dollar at 84.07.The rupee stayed in a straightjacket for yet another week, trading at its near all-time low of 84.07 against the US dollar on Friday (October 25, 2024) amid firm American currency and unprecedented foreign fund outflow.Read More :> Unseasonal Rains Damage Cotton Crop, Farmers Fear Lower Prices

The rupee strengthened by 1 paisa to close at 84.07 against the dollar this evening.The BSE Sensex closed 16.82 points lower at 80,065.16, while the NSE Nifty closed 36.10 points lower at 24,399.40.Read more:-  Unseasonal Rains Damage Cotton Crop, Farmers Fear Lower Prices

In early trade, the rupee falls flat against the US dollar at 84.07.At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and slipped 1 paisa to trade at previous day's closing level in initial deals.Read More :> Unseasonal Rains Damage Cotton Crop, Farmers Fear Lower Prices 

This evening, the rupee finished at 84.08 against the US dollar, unchangedThe BSE Sensex fell 138.74 points or 0.17 percent to close at 80,081.98 while the Nifty 50 fell 36.60 points or 0.15 percent to close at 24,435.50.Read More :-  Unseasonal Rains Damage Cotton Crop, Farmers Fear Lower Prices

Farmers Fear Lower Prices After Unseasonal Rains Damage Cotton CropsIndore: Recent unseasonal rainfall has caused significant discoloration and damage to standing cotton crops, sparking concerns among farmers about receiving lower prices for their produce.The untimely rains have also delayed the cotton picking process, farmers reported. Typically, the cotton picking season begins in mid-September and lasts through October and November. While the first round of picking has been completed, the second is still underway.Damage to the standing crop, along with quality concerns, has negatively affected the newly harvested cotton. "The rains have compromised the quality of the cotton and caused damage to the standing crop. These quality issues have led to suppressed prices in the spot market," said Kailash Agrawal, a cotton farmer and ginning unit owner.According to cotton traders, the price of newly harvested raw cotton in the Khargone market ranges from Rs 3,500 to Rs 7,500 per quintal. This wide price range reflects the quality issues and increased moisture content caused by the rains.In the Indore division, cotton is cultivated across approximately 19 lakh hectares, with Khargone, Khandwa, Barwani, Manawar, Dhar, Ratlam, and Dewas being key cotton-growing areas.Manjeet Singh Chawla, founder president of the Madhya Pradesh Cotton Ginners and Traders Association, noted that while the rains have impacted quality, the damage to cotton crops is not as severe as for other crops."Cotton production this season is expected to be favorable overall, as weather conditions were conducive during sowing and growth, except for the recent rains."The Cotton Association of India has projected Madhya Pradesh's cotton production for the 2024-25 season at 19 lakh bales (1 bale = 170 kg).Read More :> Farmers' Diwali was dull, heavy rain caused loss of 15 lakhs to cotton crop

At 84.07, the rupee is slightly up 1 paise versus the US dollar.Forex traders said a downward trend in domestic equity markets and elevated level of crude oil prices prevented a recovery in the Indian currency.Read More :> India’s Cotton Output Likely to Drop 7.4% Due to Excessive Rainfall

Due to excessive rainfall, India's cotton output is expected to decline by 7.4%.India's cotton production for the 2024/25 season is projected to decline by 7.4% to 30.2 million bales, compared to the previous year, primarily due to reduced cultivation area and crop damage caused by excessive rainfall, according to a leading trade body on Tuesday.The drop in production is expected to impact exports from the world's second-largest cotton producer during the marketing year that began on October 1, while increasing the country's need for imports, which may support global cotton prices.India's cotton imports are forecasted to rise to 2.5 million bales in the new season, up from 1.75 million bales a year earlier, according to a statement from the Cotton Association of India (CAI). Meanwhile, exports are expected to fall sharply to 1.8 million bales, down from 2.85 million bales the previous year.The decline in production is largely attributed to a significant reduction in the area under cotton cultivation, which decreased to 11.29 million hectares from 12.69 million hectares last year, explained Atul Ganatra, president of CAI.In Gujarat, India's top cotton-producing state, farmers have shifted away from cotton to grow groundnuts, which have been offering more profitable returns, according to traders.Read More :-  Farmers' Diwali was dull, heavy rain caused loss of 15 lakhs to cotton crop

This evening, the rupee closed at Rs 84.08 against the dollar with a weakness of 1 paisa.At the end of the trading session, the Sensex closed at 80,220.72 with a fall of 930.55 points or 1.15 percent and the Nifty closed at 24,472.10 with a fall of 309.00 points or 1.25 percentRead more:-  Farmers' Diwali was dull, heavy rain caused loss of 15 lakhs to cotton crop