Anti-Netanyahu protests in Israel appear to gain steam
Jerusalem: Several thousand demonstrators gathered outside the official residence of Prime Minister Benjamin Netanyahu on Saturday, as weeks of protests against the Israeli leader showed no signs of slowing.
Saturday's demonstration in central Jerusalem, along with smaller gatherings in Tel Aviv and near Netanyahu's beach house in central Israel, was one of the largest turnouts in weeks of protests.
Throughout the summer, thousands of Israelis have taken to the streets, calling for Netanyahu to resign, protesting his handling of the country's coronavirus crisis and saying he should not remain in office while on trial for corruption charges.
Demonstrators hoisted Israeli flags, blew loud horns and held posters that said Crime Minister" and accused Netanyahu of being out of touch with the public.
The rallies against Netanyahu are the largest Israel has seen since 2011 protests over the country's high cost of living.
Netanyahu has tried to play down the unrest, calling the demonstrators leftists and anarchists. Late on Saturday, his Likud Party issued a statement that accused Israel's two private TV stations of giving free and endless publicity to the protesters and exaggerating the importance of the gatherings.
While the demonstrations have largely been peaceful, they have grown increasingly violent in recent days. Some protesters have clashed with police, accusing them of using excessive force, while small gangs of Netanyahu supporters affiliated with a far-right group have assaulted demonstrators. Netanyahu has claimed demonstrators are inciting violence against him.
Israeli police have arrested some 20 far-right activists in recent days and police said they were on high alert for violence at the demonstrations.
The demonstrations are organised by a loose-knit network of activist groups. Some object to Netanyahu remaining in office while he is on trial. He has been charged with fraud, breach of trust and accepting bribes in a series of scandals.
Many of the demonstrators, including many young unemployed Israelis, accuse Netanyau of mishandling the coronavirus crisis and the economic damage it has caused.
After moving quickly to contain the virus last spring, many believe Israel reopened its economy too quickly, leading to a surge in cases. The country is now coping with record levels of coronavirus, while unemployment has surged to over 20%.
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Rupee falls 11 paise to 94.27 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 11 paise to 94.27 against US dollar in early trade on Monday driven by persistent dollar demand and a broader shift toward safe-haven assets.
Forex traders said the Indian rupee has hit a rough patch, falling for five consecutive sessions, weighed down by a combination of factors such as the RBI loosening its grip on currency rules and rising oil prices caused by global tensions.
Moreover, investors are becoming cautious again, with foreign institutions pulling money out of the market after a brief period of buying amid rising geopolitical uncertainty.
At the interbank foreign exchange market the rupee opened at 94.25 against the US dollar, then lost some ground and touched 94.27 against the US dollar in initial trade, registering a fall of 11 paise over its previous close. On Friday, the rupee had settled at 94.16 against the American currency.
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Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.09 per cent at 98.44.
Brent crude, the global oil benchmark, was trading higher by 1.16 per cent at USD 106.55 per barrel in futures trade.
A mix of softer economic signals and renewed, even if fragile, hopes of diplomacy pulled the dollar lower again, CR Forex Advisors MD Amit Pabari said, adding that for Rupee, on one hand, a softer dollar offers relief. On the other, uncertainty remains the dominant force.
Meanwhile, India’s forex reserves have crossed USD 703 billion as of April 17, reflecting a consistent build-up of buffers.
"For now, the rupee continues to lean toward gradual weakness. Uncertainty remains the dominant force, shaping both global flows and local reactions," Pabari said.
He further noted that any dips are likely to be bought into, with the 92.80–93.20 zone acting as a strong support. On the upside, 93.50 to 94.50 is expected to define the near-term range.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 518.96 points or 0.68 per cent higher at 77,183.17, while the broader Nifty was trading up 131.30 points or 0.55 per cent at 24,029.25.
Foreign Institutional Investors offloaded equities worth Rs 8,827.87 crore on Friday, according to exchange data.
