Rupee gains 12 paise to 90.66 against US dollar in early trade
Mumbai (PTI): The rupee recovered from a low level and traded with a gain of 12 paise at 90.66 against the US dollar in early deals on Monday, tracking a retreating greenback against major overseas rivals.
However, persistent outflow of foreign funds from domestic equity markets and higher crude oil prices overseas amid a volatile geopolitical situation kept investors cautious, forex analysts said.
At the interbank foreign exchange, the rupee opened at 90.68 and gained further to trade at 90.66 against the greenback, registering a gain of 12 paise from its previous closing level.
The rupee crashed 44 paise to settle near its lowest level at 90.78 against the US dollar on Friday, after losing 17 paise in the preceding two sessions.
Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was trading 0.21 per cent lower at 98.99.
Analysts said that the domestic currency found support amid a sell-off in dollar after US President Donald Trump announced imposing tariffs on European countries if they resist his plan to buy Greenland.
Brent crude, the global oil benchmark, was trading 0.17 per cent higher at USD 64.24 per barrel in futures trade.
On the domestic equity market front, the Sensex declined 482.80 points or 0.58 per cent to 83,087.55, while the Nifty fell 129.30 points or 0.50 per cent to 25,565.05.
Foreign institutional investors offloaded equities worth Rs 4,346.13 crore on Friday, according to exchange data.
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BJP responsible for Sabarimala women entry verdict, LDF's stand same as 2007 affidavit: Min Vasavan
Kottayam (Kerala) (PTI): Kerala Devaswom Minister V N Vasavan on Saturday blamed the BJP for the 2018 Supreme Court verdict permitting women's entry into Sabarimala and said the LDF government's current stand remains the same as the affidavit filed before the apex court in 2007.
He was responding to reporters' queries regarding the affidavit to be filed by the state government before the nine-member bench of the Supreme Court clarifying its position on the entry of women of menstruating age into the hill shrine.
He said the 2018 verdict came after women lawyers associated with the BJP approached the Supreme Court.
"We had filed an affidavit in 2007 stating that the issue should be decided by experts in ritualistic matters. We are still maintaining that stand," he said.
The Supreme Court has not sought the state government's position on women's entry now, but has asked for clarification on certain constitutional issues, he added.
"We have assigned the Advocate General and constitutional experts in the Supreme Court to give the reply. They will respond accordingly," the minister said.
He added that if the court seeks the state government's stand on the matter, it would be presented, noting that the LDF government had already stated its position in the affidavit filed in 2007.
"The party's (CPI-M) stand is the same as the government's. The government is with the devotees. We have always been with the devotees," he said.
The minister also criticised the opposition, alleging that they repeatedly approach courts on various issues and return with adverse responses.
"They go to court on several matters and come back with adverse responses. Has there been an opposition in Kerala that has faced so many setbacks from courts," he asked.
When asked about the state government’s actions in 2018 following the Supreme Court verdict allowing women of all ages to enter Sabarimala, he said no such interpretation should be made as the government had already clarified its stand in the 2007 affidavit.
"If the Supreme Court gives any verdict, can we say anything against it. The women’s entry was the decision of the apex court of the country," he said.
He said the 2018 verdict came after women lawyers associated with the BJP approached the SC.
"They are now hiding. Actually they were standing for it. But here they are taking a different stand," he said.
He further alleged that attempts to facilitate women's entry in 2018 were made by BJP activists.
"It was BJP's young lawyers who filed the case and received the verdict. They then called it a historic judgement. But after some stage, they changed their position," he claimed.
He said the LDF government's position was that it respects the Supreme Court's verdict.
"But in our affidavit filed in 2007 we clearly stated that the entry of women of menstruating age should be decided by experts in ritualistic matters," he said.
He denied allegations that the state government had taken special interest in facilitating the entry of women of menstruating age into Sabarimala in 2018.
The Supreme Court in 2018 permitted women of menstruating age to enter the Sabarimala temple, following which Kerala witnessed widespread protests.
Currently, the Supreme Court is considering appeals against the earlier verdict.
