Rupee rises 7 paise to close at 90.87 against US dollar
Mumbai (PTI): The rupee gained 7 paise to settle at 90.87 (provisional) against the US dollar on Monday, aided by a sharp fall in global crude oil prices and a weaker greenback amid renewed global trade-related uncertainties.
However, foreign fund outflows, coupled with geopolitical concerns, capped gains for the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 90.76 and traded in the range of 90.67-90.89 against the greenback during the session. It eventually settled at 90.87 (provisional), up 7 paise from its previous close.
The rupee plunged 26 paise to settle at 90.94 against the US dollar on Friday.
"Rupee rose to 90.67 but was not able to sustain gains as equities did not sustain the morning highs as debt yields rose. Despite the favourable verdict from the US Supreme Court, the rupee did not make any big gains, and the dollar was bought on every dip by importers and other buyers like the FPIs," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The rupee is expected to be in the range of 90.60 to 91.00, he said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.32 per cent at 97.47.
Brent crude, the global oil benchmark, was down 0.39 per cent at USD 71.49 per barrel.
On the domestic equity market front, Sensex went up 479.95 points to settle at 83,294.66, while the Nifty advanced 141.75 points to 25,713.
On Friday, foreign institutional investors offloaded equities worth Rs 934.61 crore, according to exchange data.
India's forex reserves jumped USD 8.663 billion to hit a new all-time high of USD 725.727 billion in the week ended February 13, the RBI said on Friday.
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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.
