INR rallies against US dollar after recent slide
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India.com
6 hours ago
- India.com
Rs 50100000 crore: Pakistan has become battleground of US and China, they are fighting for.., what is the hidden treasure in Balochistan
US- China Mineral Cold War in Balochistan: We all have witnessed the cold war that was seen between USSR and the United States of America in the 1980s. However, would you believe if we say that there is an ongoing cold war in Asia too. It is easy to see that Pakistan is fast becoming a geopolitical hotspot as global superpowers like the United States and China are trying to grab the resources of the countries and compete for influence. With China and US trying to intensify their presence on Pakistan, the financial near insolvent country now stands at the center of a new strategic rivalry rooted in resources. What's the Mineral Cold War in Balochistan? We all know that Pakistan has trillions of dollors of resources and at the heart of this potential resource power is Balochistan. Balochistan is a resource-rich but unstable province of Pakistan, believed to hold $6 (approximately Rs 50100000 crore in INR)–8 trillion worth of mineral reserves, including rare earth elements like dysprosium, terbium, and yttrium—vital for electronics, green energy, and defense. The global race for these minerals is being dubbed a 'mineral cold war'. China vs. US Interests: Cold war Readers should note that while the US remains cautious due to instability in Balochistan, China has made aggressive inroads through large investments, especially via the $62 billion China-Pakistan Economic Corridor (CPEC). However, these projects face strong opposition from Baloch rebels, who see them as exploitative. The escalating US-China rivalry over rare earth access has made Pakistan a key player, though mining remains highly risky due to regional unrest. Baloch Yakjehti Committee marks 13th day of Islamabad sit-in Meanwhile, the Baloch Yakjehti Committee (BYC) announced in a post on X that today is the 13th day in a row of the peaceful sit-in protest occurring in Islamabad, organised by families of individuals who have been forcibly disappeared and detained BYC leaders. As per a report by ANI, the BYC highlighted that, despite intensified intimidation methods from officials, which include monitoring, blocking buses, and recording students, the families are resolute in their determination. (With inputs from agencies)
Economic Times
9 hours 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.
Business Standard
10 hours ago
- Business Standard
INR falls near 87 per US dollar
Indian Rupee slipped today, adding to recent losses. INR closed at 86.83 per US dollar right now, down 14 paise on the day. INR fell to 86.92 per US dollar, marking the lowest level in around four-months for the local currency. The US dollar index is firm at 97.60, up 0.20% on the day and hitting one and half week high. Firm crude oil prices and a cautious undertone owing to US-India trade deal is keeping INR under check. WTI Crude scaled up near $67 per barrel today, adding to a more than 2% rally in last session. On NSE, USD/INR futures closed at 86.95, up 0.12% on the day amid an overall choppy session.
