Rupee rebounds from all-time low, up 7 paise to 92.14 against US dollar in early trade
Mumbai (PTI): The rupee rebounded from its all-time low in early trade on Tuesday, rising 7 paise to 92.14 as global oil prices fell after US President Donald Trump said the war with Iran may end soon.
A weaker greenback and a strong opening at the domestic equity markets further supported the local unit while heavy FII outflows capped sharp gains, forex traders said.
At the interbank foreign exchange, the rupee opened at 91.92 but fell to 92.14, up 7 paise from its previous close.
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The rupee crashed to its all-time closing low of 92.21 against the US dollar on Monday, losing 39 paise during the session, as global crude oil prices saw a sharp spike, and the greenback strengthened.
"The rupee fell to its lowest (on Monday). But oil prices have since fallen after G-seven countries decided to utilise their strategic reserves to sell oil and bring prices down," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
"Later, Trump said the war could be over as soon as his goals have been accomplished. Later he also weighed on easing Russia sanctions and other measures to cool off oil prices. The Brent prices cooled off this morning in the Asian trade," he said, adding that the rupee is expected to move within a range of 91.50 to 92.10.
Meanwhile, Brent crude, the global oil benchmark, was trading lower by 4.69 per cent at USD 94.32 per barrel in futures trade as the war between US-Israel and Iran intensified.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.26 per cent lower at 98.92.
On the domestic equity market front, the Sensex rose 809.57 points to 78,375.73 in opening trade while Nifty climbed 252.75 points to 24,280.80.
Foreign institutional investors sold equities worth Rs 6,345.57 crore on a net basis on Monday, according to exchange data.
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Allahabad HC orders police protection to married couple apprehending 'honour killing'
Prayagraj (PTI): The Allahabad High Court has granted protection to a married couple who expressed fear that they may be killed by the woman's family.
The order was passed by a division bench comprising Justice JJ Munir and Justice Tarun Saxena on March 25.
"No individual can make an 'honour issue' out of a consenting adult marrying a person of their own choice. It is the state's duty to protect the life, limb, and property of such persons even against their own family members," the bench said.
The court was hearing a petition filed by Prachi Agrawal and her partner, who sought relief in connection with an FIR filed under Section 87 of Bhartiya Nyaya Sanhita (BNS) for kidnapping, and abducting or inducing a woman to compel her marriage.
The couple submitted that they married at an Arya Samaj temple and possessed a marriage registration certificate issued under the Uttar Pradesh Marriage Registration Rules, 2017.
The petitioners alleged that the woman's family members were averse to their marriage and lodged a bogus FIR against them.
The couple further submitted a joint affidavit expressing apprehension of an honour killing by the woman's family.
The court said that a prima facie case was made out and issued notice to the private respondent and granted two weeks to file a counter-affidavit.
Meanwhile, as an interim measure, the court granted the petitioners protection from arrest.
The court also explicitly ordered the woman's family members and relatives not to harm the petitioners, enter their matrimonial home, or establish contact with them directly or through any electronic means.
The bench directed the Aligarh senior superintendent of police to ensure that no harm comes to the couple and posted the matter for hearing on April 8.
