Latest news with #Dollar
The Hindu
5 days ago
- Business
- The Hindu
Rupee rises 17 paise to 86.24 against U.S. dollar in early trade
The rupee appreciated 17 paise to 86.24 against the U.S. dollar in early trade on Thursday (July 24, 2025), tracking the weakness of the American currency in the overseas market. Forex traders said uncertainty over the India-U.S. trade deal has been a huge overhang for the forex market, leaving the rupee trading in a tight range. Moreover, a negative trend in domestic equities and foreign fund outflows dented investors' sentiments and restricted the upmove of the local unit. At the interbank foreign exchange, the domestic unit opened at 86.33 and touched 86.24 against the greenback in initial deals, higher by 17 paise from its previous closing level. On Wednesday (July 23, 2025), the rupee settled with a loss of 3 paise at 86.41 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.06% to 97.15, as investors watched out for a trade deal ahead of the August 1 deadline. Brent crude, the global oil benchmark, went up by 0.25% to $68.68 per barrel in futures trade, on the trade optimism with U.S.-Japan deal done and U.S.-E.U. deal under talks, which could ease pressure on the global economy. However, the uncertainty over U.S.-China trade talks and Eluding peace between Russia and Ukraine is limiting further gains, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Mr. Bhansali further noted that despite a fall in Dollar index and rise in risk assets, Indian rupee has not been able to show any substantial gains largely due to significant dollar demand in the system. The rupee will remain in a range of 86.10 to 86.60, Mr. Bhansali said, adding that "We need to wait and watch the developments that are happening particularly on the deal front." If the discussions fail or get delayed, Indian exporters could face fresh pressure — adding to the rupee's challenges. However, if a deal is reached, it could offer a much-needed breather. Until then, the uncertainty is likely to keep market participants cautious. Meanwhile, in the domestic equity market, Sensex declined 124.79 points or 0.15% to 82,601.85, while Nifty fell 15.75 points or 0.06% to 25,204.15. Foreign institutional investors (FIIs) offloaded equities worth ₹4,209.11 crore on a net basis on Wednesday, according to exchange data.
The Star
21-07-2025
- Business
- The Star
Crypto firm BitGo confidentially files for US IPO
FILE PHOTO: Representations of virtual cryptocurrencies are placed on U.S. Dollar banknotes in this illustration taken November 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -BitGo, a provider of trust and security services for digital assets, said on Monday it has confidentially filed for a U.S. listing, as crypto firms race to capitalize on renewed market momentum. Several high-profile companies, including those in riskier sectors like crypto and fintech, have launched successful listings in recent weeks, signaling pent-up demand and a rebound in capital markets activity. BitGo's announcement follows the crypto sector's market value hitting $4 trillion last week, driven by renewed optimism, regulatory clarity in key markets, and rising institutional inflows. The number of shares to be offered and the price range for the proposed initial public offering have not yet been determined, BitGo said. (Reporting by Manya Saini in Bengaluru; Editing by Leroy Leo)
Economic Times
19-07-2025
- Business
- Economic Times
'Never let anyone to play games with us...': Trump ridicules BRICS, issues 10% tariff threat
US President during his speech before signing 'GENIUS ACT' said, "... This (The Genius Act) is really strengthening the US Dollar and giving the Dollar a great prominence. There is a little group called BRICS, and it is fading out fast. But BRICS tried and wanted to take over the Dollar and the dominance of the Dollar and the standard of the Dollar. I said that anybody in the BRICS consortium of nations, we are going to tariff you 10% and they had a meeting the following day, and almost nobody showed up... We are not going to let the Dollar slide... If we lost the status of the Dollar as the world's reserve currency, it would be like losing a World War... When I heard about this group of six countries in BRICS, I hit them very hard, and if they ever really form in a meaningful way, it will end very quickly..." Show more 03:38 03:48 02:13 02:30 18:02 08:33 14:04 08:33 03:56 05:35 04:01 11:10 09:37 08:08 10:59 08:14 03:07 06:45 03:26 12:54 08:54 05:39 03:50 12:38 08:41 03:32 09:30 09:56 08:49 09:04 03:06 13:25
News18
19-07-2025
- Business
- News18
'Little Group Fading Fast': Trump Mocks BRICS In Latest Remark, Repeats 10% Tariff Threat
Last Updated: Donald Trump took credit for undermining the BRICS group's attempts to challenge the global dominance of the US dollar, vowing that he would never let that happen. US President Donald Trump on Friday mocked the BRICS bloc as a 'little group" that is 'fading out fast" and reiterated his warning of a 10 per cent tariff on countries aligning with it, accusing them of supporting 'anti-American policies." Trump further took credit for undermining the bloc's attempts to challenge the global dominance of the US dollar, vowing that he would never let that happen. 'There is a little group called BRICS, and it is fading out fast. However, BRICS attempted to challenge the dominance of the Dollar and its standard. I said that anybody in the BRICS consortium of nations, we are going to tariff you 10 per cent, and they had a meeting the following day, and almost nobody showed up," said Trump while speaking at the signing of the GENIUS Act into law. #WATCH | US President Donald Trump says, '… This (The Genius Act) is really strengthening the US Dollar and giving the Dollar a great prominence. There is a little group called BRICS, and it is fading out fast. But BRICS tried and wanted to take over the Dollar and the… — ANI (@ANI) July 18, 2025 Donald Trump, taking firm stance toward global economic competitors, said, 'When I heard about this group of six countries in Brics, I hit them very hard, and if they ever really form in a meaningful way, it will end very quickly." Though he didn't name the nations, Trump added, 'We can never let anyone play games with the US." He also stressed the importance of maintaining the US Dollar's global reserve status. 'We are not going to let the Dollar slide… If we lost the status of the Dollar as the world's reserve currency, it would be like losing a World War." Former U.S. President Donald Trump has also targeted Brazil with new trade penalties, announcing a 50% tariff on imports beginning in August over what he described as 'unfair" trade practices. This follows his earlier July 6 declaration of a 10 per cent tariff on any nation aligning with the BRICS group. The BRICS group, originally formed in 2009, is a coalition of emerging economies comprising Brazil, Russia, India, China, and South Africa (which joined in 2010). In 2024-25, the bloc expanded to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates, bringing the total number of member countries to 11. BRICS was established with the goal of promoting peace, development, and a more balanced global order by strengthening economic cooperation among developing nations. Over the years, it has positioned itself as a counterweight to Western-led institutions like the G7 and the IMF, advocating for a multipolar world and reforms in global governance systems. The bloc also promotes the use of local currencies in trade. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Yahoo
19-07-2025
- Business
- Yahoo
Could the Pentagon's $550 Million Bet on Rare Earths Signal the Next Market Boom?
The Pentagon just made one of its biggest strategic investments in U.S. mining in recent history, and it's worth a closer look for investors. In a bold move to secure America's supply of rare earth elements, the Department of Defense purchased a 15% equity stake in MP Materials (MP) — the only major rare earth mining company operating in the U.S. The deal includes a staggering $400 million in stock, plus a $150 million government loan. More News from Barchart Solid US Economic News Lifts the Dollar Dollar Climbs on Signs the US Economy Is Holding Up Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! So what's going on here? Rare Earths Are the New Gold Rush Rare earth elements are essential to powering everything from: iPhones and EVs Drones and military jets Missile guidance systems and nuclear submarines And 90% of the world's rare earths? They come from China — the very country the U.S. is competing with in the global artificial intelligence (AI) and defense race. That's why this investment in MP stock isn't just a mining play. It's a national security move. What Do They Know That You Don't? The U.S. Department of Defense plans to continue investing in critical minerals projects to ensure a domestic supply for weapons and many electronics. Just 6 miles north of MP's Mountain Pass mine lies a tiny, overlooked project run by Dateline Resources (DTREF), a microcap mining stock with both gold and rare earth exposure at its Colosseum project. Some analysts believe it may be geologically identical to MP's massive mine — a 'carbon copy,' in the words of insiders. And with China recently hiking rare earth prices by 14%, retail traders and hedge funds are starting to take notice. Apple's $500 Million Bet Apple (AAPL) also just inked a $500 million deal with MP Materials to secure its rare earth pipeline — making this not just a government-backed investment, but a corporate supply chain priority, too. The Department of Defense has even introduced a price floor of $110/kg on rare earths, which could practically guarantee profits for approved suppliers. How to Find the Next Big Rare Earth Winner If this feels like a modern gold rush, it just might be. And Barchart has the tools to help you navigate it. Use Barchart's ETF Screener to track rare earth ETFs like REMX or URNM. Filter Mining Stocks by Market Cap, RSI, and Trend Seeker® to find potential small-cap breakouts like DTR or Lynas Rare Earths (LYSDY). Watch our full YouTube video breaking down how to use Barchart screeners to catch big moves early: Final Thought The Pentagon doesn't usually buy stock. When they do — especially in a critical industry — it's time to pay attention. Rare earths might not just power the next generation of defense tech… They could power your next winning trade, too. On the date of publication, Barchart Insights did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
