Rupee rises 38 paise to 90.40 against US dollar in early trade
Mumbai (PTI): The rupee appreciated 38 paise to 90.40 against the US dollar in early trade on Thursday, supported by foreign fund inflows and suspected RBI intervention.
Forex traders said foreign fund inflows, while not massive, provided a psychological anchor. Moreover, the RBI has been quietly ensuring that liquidity remains abundant in the banking system.
At the interbank foreign exchange market, the rupee opened at 90.55 against the US dollar, then gained momentum and touched 90.40, registering a rise of 38 paise over its previous close.
In the initial trade, the rupee also touched 90.56 against the American currency.
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On Wednesday, the rupee depreciated 22 paise to close at 90.78 against the US dollar on Wednesday.
"The RBI has been quietly ensuring that liquidity remains abundant in the banking system. With surplus liquidity hovering near Rs 3 trillion — the highest in six months — banks are flush with cash," CR Forex Advisors MD Amit Pabari said in a note.
Pabari further noted that elevated crude oil prices continued to hover like a silent tax on the economy. Geopolitical tensions remained unresolved, keeping risk appetite restrained.
"Meanwhile, steady dollar demand persisted in the background. Add to that the lingering uncertainty around the US-India trade framework -- including the earlier revisions to the White House fact sheet -- and the mood naturally turned cautious," he said.
Forex traders said that while markets initially welcomed the India-US trade deal, fresh concerns have emerged after the White House released its fact sheet.
The fact sheet highlights key terms of the agreement, including that India will eliminate or reduce tariffs on all US industrial goods and a wide range of US food and agricultural products.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 96.78.
Brent crude, the global oil benchmark, was trading 0.42 per cent higher at USD 69.69 per barrel in futures trade.
On the domestic equity market front, Sensex declined 349.87 points to 83,883.77 in early trade, while the Nifty was down 106.60 points to 25,847.25.
On Wednesday, foreign institutional Investors purchased equities worth Rs 943.81 crore, according to exchange data.
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Delhi: Father, son held for killing 19-year-old woman in suspected honour killing
New Delhi (PTI): The Delhi Police has arrested a man and his son for allegedly murdering his 19-year-old daughter in west Delhi's Hari Nagar area, an official said on Friday.
The case first came to light on April 1 after a PCR call was received around 2 pm, alleging that a woman had been killed by her family members and her body was being taken for last rites, he said.
The accused, identified as Mohammad Maneer (55), a vegetable vendor, and his son Meraj Ali (19), were arrested in connection with the case, the officer said.
The victim had been in a relationship with a man from her native place for the past two years, which was opposed by her father, Maneer and brother Meraj, he said.
"When the girl did not end the relationship despite objections, the family killed her," the officer said.
On April 1, the police said that when their team reached the spot, they found that the woman's body was being taken for burial.
Acting on the input, the burial process was stopped over suspicion of honour killing.
"Police intercepted the family members and took possession of the body," he said.
Police said that the man who had made the PCR told them that the woman was in love with his cousin.
During the inquiry, police also interacted with the PCR caller, who said his cousin, a friend of the deceased, had informed him about the situation and suspected foul play, prompting him to alert the police control room.
The body of the woman was subsequently shifted to the mortuary of Deen Dayal Upadhyay Hospital for preservation and postmortem.
Police said that both the crime team and the forensic science laboratory (FSL) team were called to inspect the scene and collect evidence.
Police said that, as per the postmortem report, the cause of death was identified as smothering, indicating that the woman was suffocated.
A preliminary inquiry also revealed that the family had initiated preparations for the last rites soon after the woman's death, raising suspicion about the circumstances.
Initial investigation pointed to the family's opposition to the woman's relationship.
"The family members of the woman saw her with the man, and she was taken back home. We got to know that she was beaten up and even locked inside the house for some days," a source said.
Further investigation into the matter is underway, police added.
