CoinDCX launches India's largest crypto recovery bounty after Rs 368 crore Hack
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
34 minutes ago
- Economic Times
Rupee hits fiscal year low amid strong dollar, trade deal worries
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Indian rupee slumped to its lowest this fiscal year against the dollar Tuesday on an across-the-board strengthening in the greenback amid uncertainty related to the impending trade deal with the US, dealers said. Month-end dollar demand from importers also exerted pressure on the local currency fell to 86.9150 to a dollar intraday, before recouping some losses, tracking domestic equity markets. It closed at 86.8150 to a dollar, the lowest level since mid-March, compared with the previous close of equities snapped a three-day losing streak with the benchmark indices closing higher Tuesday.'The dollar index has surged in the past two days, leading to a largely hands-off approach from the central bank, as the price action aligned with market forces. This unwinding in major currencies suggests the greenback might be finding a firmer footing after an extended period of weakness,' said Dilip Parmar, research analyst at HDFC said that the central bank, which intervenes to curb excessive volatility in the forex market, had a limited presence on Tuesday. 'The RBI likely sold dollars as the rupee touched 86.91 levels. The exchange rate touched 86.91 about three-four times today, and it bounced back every time,' said Anil Bhansali, head of treasury at Finrex Treasury AdvisorsIf the dollar continues to head north against a basket of currencies, the rupee is headed for a further slide.'A stronger dollar is likely to exert pressure on the Indian Rupee, potentially pushing it beyond the 87 mark,' Parmar dollar index surged on Monday mainly because of slump in the euro as the trade deal with the US and European Union is seen unfavourable to the bloc. During Indian market hours, the dollar index, which measures greenback against a basket of six currencies, extended gains and was trading above home, investors across equity as well as forex markets are expected to remain cautious given the worries over the trade deal, which is unlikely before the US President Donald Trump's August 1 deadline for higher attention will also be on the Federal Open Market Committee (FOMC), which is expected to keep interest rates on hold for the fifth time in a row following its meetings on July 29–30. The meeting comes amid Trump's repeated criticism of Powell over holding the policy rates.
Economic Times
34 minutes ago
- Economic Times
Tilaknagar to raise Rs 2,296 crore via preferential issue for Imperial Blue buy
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Economic Times
34 minutes ago
- Economic Times
NTPC Q1 Results: Cons PAT rises 11% YoY to Rs 6,108 crore, revenue falls 3%
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
