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Subdued domestic equity markets and elevated American currency also weighed on the local unit even as investors moved cautiously, awaiting the interest rate decision of the US Federal Reserve, according to forex traders.

At the interbank foreign exchange, the local unit opened at 92.35 and fell further to trade at 92.42 against the US dollar, registering a 14-paise decline from its previous closing level.

The local unit ended Monday’s session with a marginal gain of 2 paise at 92.28 against the dollar.

The rupee, one of the worst-performing Asian currencies, touched its lowest intra-day level of 92.47 at the end of the previous week before closing the session at 92.30 against the dollar, its lowest-ever closing level until Friday.

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Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.19 per cent higher at 99.65.
Brent crude, the global oil benchmark, was trading higher by 2.68 per cent at USD 102.87 per barrel in futures trade. On the domestic equity market front, the Sensex declined 91.62 points, or 0.12 per cent, to 75,411.23 in early trade, while the Nifty fell 34.25 points, or 0.15 per cent, to 23,374.55.

The latest government data released on Monday showed the country’s trade deficit narrowed to USD 27.1 billion in February compared to January.

Merchandise exports dropped marginally by 0.81 per cent to USD 36.61 billion, while imports increased by 24.11 per cent to USD 63.71 billion in February this year from USD 51.33 billion recorded a year ago.

Foreign institutional investors sold equities worth Rs 9,365.52 crore on a net basis on Monday, according to exchange data.

Indonesia’s Danantara, a sovereign investment platform, supports long-term growth by directing capital into key sectors, improving SOE performance, and aiming for $50 billion annual returns.

Indonesia’s Sovereign Investment Platform: Danantara

Indonesia’s sovereign wealth fund, Danantara, has completed its first year, marking a significant step in the country’s long-term economic planning. Positioned at the core of Indonesia’s strategy, Danantara aims to direct national capital toward critical sectors and large-scale development projects, moving beyond merely holding state enterprise assets. This shift reflects Indonesia’s commitment to fostering sustainable economic growth through strategic investments.

Strategic Goals and Sector Oversight

The platform manages a diverse portfolio across key industries such as banking, energy, telecommunications, infrastructure, and mining. Its role is to facilitate targeted investments that support industrial expansion and improve infrastructure. Early indicators show that Danantara is beginning to align state assets with national economic priorities, laying a foundation for broader economic stability and growth.

Asset Management and Future Ambitions

Danantara has set ambitious financial targets, aiming to generate around US$50 billion annually with a 5% return on assets. While comprehensive performance data remains limited due to ongoing restructuring, initial reports highlight a substantial 300% improvement in the return on assets of SOEs under its management. These early results suggest that governance reforms are effectively bolstering asset performance.

PGIM Investments, a subsidiary of PFI, is an investment adviser and the investment manager to all PGIM US open-end investment companies and manager or administrator to closed-end investment companies. Note: This account is not managed or monitored by PGIM Investments, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use PGIM Investments’ official channels.

Federal regulators announced Sunday that an E. coli outbreak that infected at least seven people in three states have been traced to a raw cheddar cheese product.

Many of the affected individuals are children, ages 3 or younger, across California, Texas and Florida, according to the U.S. Food and Drug Administration (FDA). Of the seven reported cases, five were in California, one in Florida and another in Texas.

“The FDA and CDC, in collaboration with state and local partners, are investigating a multistate outbreak of E. coli O157:H7 infections,” the FDA said. “As of March 14, 2026, a total of 7 confirmed infections have been reported from three states.”

Officials said investigators have traced the outbreak to California producer RAW FARM, a family-owned company recognized as the nation’s largest producer of raw dairy products.

RECALL EXPANDS TO NEARLY 1M FRIGIDAIRE MINIFRIDGES SOLD AT TARGET OVER FIRE HAZARDS

The FDA issued a warning urging consumers of a raw cheddar cheese product by RAW FARM linked to E. coli.  (FDA / Fox News)

The FDA noted that RAW FARM declined to issue a voluntary recall of its shredded raw cheddar cheese product despite the agency’s recommendation.

In response, the dairy farm denied the allegations on its social media page Monday, claiming that the health agency made “false allegations” against the brand and that no tests have confirmed a positive match for the E. coli strain.

“We disagree 100% with the allegations made by the FDA and CDC,” the company said. “All of our products have been CONFIRMED to be negative for all harmful bacteria, including Ecoli 0157-H7. FDA has found NO Raw Farm products to be tested positive for Ecoli in the marketplace.”

“Inaccurate statements made by the FDA and CDC linking our brand to an outbreak is egregious and extreme harassment towards our brand,” it added. 

E. COLI OUTBREAK IN FOUR STATES SPARKS RECALL IN RAW MILK PRODUCT: CDC

A package of raw cheddar cheese made from grass-grazed cows is displayed in this undated photo. (FDA / Fox News)

The FDA confirmed that no RAW FARM–brand cheddar cheese products have yet tested positive for E. coli, but said state partners have begun collecting product samples.

They added that investigators were able to track the infections using epidemiological data, a scientific method that analyzes the distribution, patterns, and causes of health-related events.

“Epidemiologic evidence indicates that RAW FARM-brand raw cheddar cheese products made by RAW FARM, LLC are the likely source of this outbreak,” the agency said.

Of the three individuals who were interviewed, all reported eating RAW FARM–brand cheese, federal regulators said, adding that local officials are working to gather additional information for the other four cases.

Shredded cheese is displayed in a white bowl in an undated photo. (iStock / iStock)

At least two patients have been hospitalized, but no deaths have been reported in the outbreak, health officials added. 

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Despite the company’s denials, the FDA released a notice urging consumers and retailers to exercise caution with the cheese and to sanitize any surfaces to prevent cross-contamination.

The E. coli strain involved can cause serious, potentially life-threatening conditions, including severe kidney failure, stomach cramps, fever, nausea, vomiting, and bloody diarrhea, the FDA said. Illness typically begins anywhere from a few days up to nine days after consuming contaminated food. 

FOX Business reached out to RAW FARM for additional comment.