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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Worker’s body reaches Ranchi from Saudi 4 months after death; family rejects over compensation
Ranchi (PTI): The body of a migrant worker from Jharkhand’s Giridih district killed in Saudi Arabia in October last year has arrived at Ranchi Airport, but his family refused to accept it over pending compensation, officials said.
Shikha Lakra, team leader of the state migrant control cell, told PTI that, before taking the body of Vijay Kumar Mahato, the family is demanding compensation from the private company where he used to work in the Arab country.
Mahato was killed in an alleged crossfire between the police and criminals.
“Since it was a bullet injury case, the matter is before a court in Jeddah. The final compensation may depend on the court’s decision,” Lakra said.
“The Indian Embassy informed us about the body’s arrival, and coordination was done with district authorities. Our role is limited to coordination in cases involving overseas employers and foreign jurisdiction,” she added.
Giridih Deputy Commissioner Ram Niwas Yadav said the authorities will try to convince the family to perform the last rites.
“We have already sanctioned Rs 5 lakh under the government scheme for migrant’s deaths abroad. The compensation payment might take some time,” he said.
The body is currently at the mortuary of Rajendra Institute of Medical Sciences (RIMS) in Ranchi.
The Family members said they will only accept it if the company provides written assurance regarding compensation. “Without that assurance, we will not receive the body,” said Ram Prasad Mahato, the deceased’s brother-in-law.
Mahato, a native of Dudhpaniya village in Madh Gopali panchayat under Dumri block, was employed as a tower line fitter. His family said he was struck by a bullet during a gunfight between local police and an extortion gang and later succumbed to his injuries.
Social activist Sikander Ali said Mahato is survived by his wife, two young sons aged five and three, and elderly parents.
