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Rupee drops to 86.34 amid global tensions and dollar strength. Rising crude prices and weak equity sentiment add pressure.

Rupee Falls to 86.34 Amid Global Market Pressure

Amid rising global tensions and crude prices, the rupee dropped to 86.34. The US dollar strengthened, and weak equity sentiment added pressure.

The rupee fell by 30 paise to 86.34, driven by global tensions and rising crude prices. The strengthening US dollar and weak equity sentiment contributed to this drop.

The rupee declined 30 paise to close at 86.34 against the greenback on Tuesday, weighed down by a rise in global crude oil prices amid the escalating Iran-Israel war and a strengthening dollar.
Weak sentiments in the domestic equity markets put further pressure on the rupee, according to forex traders.
At the interbank foreign exchange, the rupee opened at 85.96 against the US dollar and traded in the range of 85.89-86.34. It finally settled at 86.34, down 30 paise from its previous close.
The rupee had closed at 86.04 against the rupee on Monday.
"As the rupee closes below 86.20, we can expect it to fall to 86.70 levels before any recovery. Dollar selling has been restricted for now with the war and is taking a toll on risk, and the greenback is getting bought as the tariff issue becomes secondary. Trump also said pharma tariffs will be coming soon, spooking pharma stocks of India and FPIs selling continuously," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
"Conflicts in Europe and the Middle East have intensified. The US has an unsustainable debt while there is unrest due to the deportation of illegal immigrants in the US. All negative factors have been helpful in keeping risk assets away, taking the rupee lower as it closed at 86.24," he said, adding that the rupee could be in the range of 85.80-86.50 on Wednesday.
The prices of Brent crude -- the global oil benchmark -- rose 1.60 per cent to 74.40 per barrel in futures trade after rising sharply over the past few days, owing to the escalating Israel-Iran conflict.
In the domestic equity market, the 30-share BSE Sensex declined 212.85 points to settle at 81,583.30, while Nifty was down 93.10 points to 24,853.40.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.20 per cent to 98.19.
According to the monthly data released by the Ministry of Statistics &amp; Programme Implementation on Monday, the rate of unemployment in the country rose to 5.6 per cent in May from 5.1 per cent in April this year, mainly due to seasonal variation.
Foreign institutional investors (FIIs) bought equities worth Rs 1,482.77 crore on a net basis on Tuesday, according to exchange data.

The Japanese Yen weakened to 151.97 per dollar, its softest since 1990, just over a week after the Bank of Japan announced a much-anticipated interest rate hike in a shift away from years of ultra-loose monetary policy

Japanese Yen hits 34-year low against the U.S dollar

<h2>The Japanese Yen weakened to 151.97 per dollar, its softest since 1990, just over a week after the Bank of Japan announced a much-anticipated interest rate hike in a shift away from years of ultra-loose monetary policy</h2>

The Japanese Yen has hit a 34-year low against the US dollar. This comes just over a week after the Bank of Japan announced a much-anticipated interest rate hike in a shift away from years of ultra-loose monetary policy.
<h3>Japanese Yen falls</h3>
The unit weakened to 151.97 per dollar, its softest since 1990. As per AFP, speculations of authorities intervening in the market to prop up the currency has erupted.&nbsp;
The drop came after a top central bank official suggested it would continue to pursue an accommodative policy for the time being, echoing previous comments from the BoJ.
Also Read: <a href="https://www.editorji.com/business-news/economy/pakistan-s-rupee-braces-for-tough-year-after-20-fall-in-2023-1701159824722">Pakistan's rupee braces for tough year after 20% fall in 2023</a>
Even after Japan's shift from negative interest rate, Yen remains as the worst-performing major, down more than 7% on the dollar for the quarter ending later this week.&nbsp;
<h3>Yuan's Performance</h3>
The Yen has sharply weakened &nbsp;from levels of around 115 against the dollar before Russia's invasion of Ukraine over the past two year.&nbsp;
While central banks around the world aggressively hiked rates to tackle soaring inflation caused by the war in Ukraine and other factors, the Bank of Japan stuck to its ultra-loose policies, driving down the yen. However, the central bank finally took a step away from its monetary stimulus programme -- hiking rates for the first time since 2007.
The yen has continued to slide since then, however, and on Monday a Japanese finance ministry currency diplomat hinted at potential intervention in the currency market.
"We can't tolerate excessive movement based on speculation, which has a huge negative effect on the national economy," Masato Kanda said.
"We will take appropriate measures against excessive movement without ruling out any means."
Wednesday's drop came after Naoki Tamura, a BoJ board member, reportedly told business leaders in northern Japan that "slow but steady progress" was needed on scaling back the central bank's long-standing ultra-easy policy.
As per Bloomberg News he repeated a line from a bank policy statement about financial conditions staying accommodative for now. This has triggered a fresh fall in the yen.&nbsp;
Meanwhile, Official figures last week showed that Japanese inflation accelerated to 2.8% in February, staying above the bank's two-percent target meant to fight stagnation.
The BoJ has pursued policies aimed at encouraging inflation in order to bring the world's fourth-largest economy out of harmful deflation, with the figure hitting or exceeding its target of two percent for almost two years.
But the central bank has long said inflation needs to be driven by demand and higher wages instead of temporary factors such as higher energy costs.
&nbsp;
&nbsp;
&nbsp;

The consumer price index (CPI), a key measure of inflation, rose at an annual pace of 7.7 percent in September

Stocks rally, dollar slumps as US inflation eases

The consumer price index (CPI), a key measure of inflation, rose at an annual pace of 7.7 percent in September

Stocks rallied while the dollar slumped against rival currencies on Thursday after a drop in US inflation dimmed expectations of more aggressive Federal Reserve rate hikes.
On Wall Street, the Dow gained nearly a thousand points in late morning trading, or 3.0 percent.
The broader S&amp;P 500 jumped 4.5 percent and the tech heavy Nasdaq Composite soared 5.9 percent.
While the annual inflation rate was down from a harsh 9.1 percent in June -- the highest in 40 years -- latest numbers are unlikely to bring quick reprieve from the Federal Reserve's aggressive moves to cool the economy.
The Russia war in Ukraine has sent food and fuel prices soaring, and the energy index surged 17.6 percent over the past 12 months, according to the data.

As the Indian Rupee hit an all-time low of 77.53 against the U.S. Dollar, editorji talks to Flexi Capital to understand the sectors that are going to take a jolt and the others that will actually be benefitted.
We also discussed what has led to the fall in the domestic currency and how actually it is placed in comparison to other emerging market currencies.
What has China or Russia or Ukraine has to do? 
Even as the equity markets have been taking a toll due to the rising inflation worries, how must one place his/her portfolio?

Rupee & Your Portfolio: How to bet at these odd times, Flexi Capital explains

What has led to the fall in Indian Rupee and how actually it is placed in comparison to other emerging market currencies?

EJ Money Matters Ep 03

Does the falling equity markets seem like an opportunity to buy good quality stocks?

As the Indian Rupee hit an all-time low of 77.53 against the U.S. Dollar, editorji&nbsp;talks to Flexi&nbsp;Capital to&nbsp;understand the sectors that are going to take a jolt and the others that will actually be benefitted.
We also discussed what has led to the fall in the domestic currency and how actually it is placed in comparison to other emerging market currencies.
What has China or Russia or Ukraine has to do?&nbsp;
Even as the equity markets have been taking a toll due to the rising inflation worries, how must one place his/her portfolio?

US Markets at record high, Crude stabilises, Fed minutes in focus. Here are the overnight global cues for trade -:Equity Markets

US markets end in the green in a tepid session, S&amp;P 500 up 0.34% overnight to close at an all-time high of 4,358.13. &nbsp;
Tech stocks outperform, Apple stock hits record high as marketcap&nbsp;tops $2.4 trillion&nbsp;
Asian markets mixed in trade following listless US market cues&nbsp;&nbsp;&nbsp;

Commodity Cues

Crude prices steady around the $73/bbl mark&nbsp;
Gold futures&nbsp;rose 0.4% to settle at $1,802
China likely to sell more metals from reserve to stabilise price

Money Market Cues

Dollar remained firm against a basket of currency, Dollar Index at&nbsp;&nbsp;92.70
Fed&nbsp;June minutes showed the &ldquo;substantial further progress&rdquo; target for the economic recovery generally had yet to be met.


Global Cues: US Markets record high, Fed minutes eyed, Crude prices stabilises

From the Fed minutes to rising gold prices, Click here to get upto&nbsp;speed on all the global cues as US markets end at new record high.&nbsp;

Global Cues:

Tech stocks outperform, Apple at record high as marketcap soars to $2.4 trillion&nbsp;

US Markets at record high, Crude stabilises, Fed minutes in focus. Here are the overnight global cues for trade -: Equity Markets
<ul>
<li>US markets end in the green in a tepid session, S&amp;P 500 up 0.34% overnight to close at an all-time high of 4,358.13. &nbsp;</li>
<li>Tech stocks outperform, Apple stock hits record high as marketcap&nbsp;tops $2.4 trillion&nbsp;</li>
<li>Asian markets mixed in trade following listless US market cues&nbsp;&nbsp;&nbsp;</li>
</ul>
Commodity Cues
<ul>
<li>Crude prices steady around the $73/bbl mark&nbsp;</li>
<li>Gold futures&nbsp;rose 0.4% to settle at $1,802</li>
<li>China likely to sell more metals from reserve to stabilise price</li>
</ul>
Money Market Cues
<ul>
<li>Dollar remained firm against a basket of currency, Dollar Index at&nbsp;&nbsp;92.70</li>
<li>Fed&nbsp;June minutes showed the &ldquo;substantial further progress&rdquo; target for the economic recovery generally had yet to be met.</li>
<li>US 10 year yield at the lowest level in 19 weeks, below 1.3%</li>
</ul>

US markets took a hit as the 30 stock Dow fell more than 500 points as investors got spooked by Federal Reserve (Fed) commentary on earlier than expected rate hikes.&nbsp;The US stocks nosedived after Federal Reserve official James Bullard that the he was supporting the group of seven members that believes rate increases will&nbsp;begin next year. This comes as the Fed has moved up it's rate hike calendar to 2023 due to a rise in inflation forecast.&nbsp;Financials&nbsp;were down 6%, Energy sector down 5% were the worst hit on Wall Street.&nbsp;For the week, the Dow lost 3.5%. The S&amp;P 500 and Nasdaq were down by 1.9% and 0.2%, respectively.

US Markets slide, Dow falls more that 500 points sees worst week since Oct

Asian markets slide, Japanese markets down 3% following US markets' 500 point crack, so what&nbsp;is spooking global investors?&nbsp;

<ul>
<li>US markets see sharp drop in Friday's trade, Dow down 500 points</li>
<li>US markets fall on Fed commentary on early rate hikes</li>
<li>Fed Official Bullard: See central bank hiking rates as early as next year</li>
<li>Fed has moved up rate hike calendar and inflation forecast</li>
<li>Financial and commodity stocks worst hit on Wall Street</li>
<li>For the week: Dow down 3.5%, worst week since October</li>
</ul>

US markets took a hit as the 30 stock Dow fell more than 500 points as investors got spooked by Federal Reserve (Fed) commentary on earlier than expected rate hikes.&nbsp; The US stocks nosedived after Federal Reserve official James Bullard that the he was supporting the group of seven members that believes rate increases will&nbsp;begin next year. This comes as the Fed has moved up it's rate hike calendar to 2023 due to a rise in inflation forecast.&nbsp; Financials&nbsp;were down 6%, Energy sector down 5% were the worst hit on Wall Street.&nbsp; For the week, the Dow lost 3.5%. The S&amp;P 500 and Nasdaq were down by 1.9% and 0.2%, respectively.

Gold prices are down 5% so far this week, silver over 6% as the precious metals see the&nbsp;worst week in 9 months after hawkish comments from the Fed sent the dollar on a rally.&nbsp;The dollar jumped to a 2-month high as the Federal Reserve indicated earlier than anticipated rate hike. Prices in India were firmly below the Rs 47,000/10 gm mark which analysts believe will spark buying in the world's largest gold jewellery market.&nbsp;The price drop in the yellow metal may be temporary as per brokerage house Goldman Sachs who stated "In a now familiar pattern, the recent gold move has outpaced both the move in the dollar and in real rates, indicating it is due for an upward price reversal in coming weeks."

Gold prices slide 5%, Goldman says reversal is due so is it time to buy again?

Gold prices slide 5%, is the shine finally coming off or is it a good time to buy?

<ul>
<li>Gold prices slide after Fed's hawkish commentary on rates</li>
<li>Gold prices down 5% for th week, worst in 9 months</li>
<li>Dollar jumps on earlier rate hike talk, rises to 2-month high</li>
<li>Gold prices in India continue to trend below Rs 47,000/10gm mark</li>
<li>Goldman Sachs: Gold is&nbsp;due for an upward price reversal</li>
</ul>

Gold prices are down 5% so far this week, silver over 6% as the precious metals see the&nbsp;worst week in 9 months after hawkish comments from the Fed sent the dollar on a rally.&nbsp; The dollar jumped to a 2-month high as the Federal Reserve indicated earlier than anticipated rate hike. Prices in India were firmly below the Rs 47,000/10 gm mark which analysts believe will spark buying in the world's largest gold jewellery market.&nbsp; The price drop in the yellow metal may be temporary as per brokerage house Goldman Sachs who stated "In a now familiar pattern, the recent gold move has outpaced both the move in the dollar and in real rates, indicating it is due for an upward price reversal in coming weeks."

Price rise across the globe has started to heat up and that is beginning to worry investors that have been very comfortable with the easy money policy. Here are some of inflation headlines that are sending jitters to global investors -:

US headline inflation expected to rise to 3.6% this month, and the reality is much higher as very low base is keeping this number muted&nbsp;
Indications from the bond market signal that U.S. inflation expectations have surged to the highest in a decade.
Import prices of goods to the U.S. from China rose 1.8% in March , the biggest gain in almost nine years
China&rsquo;s&nbsp;producer price index&nbsp;climbed by the most since 2017 in April
Global commodity supercycle continues, copper to corn all commodities surge to record high.


The inflation headlines that global markets are reading 

Copper to corn as commodity price continue to skyrocket, global inflation comes back to the forefront of concerns for global investors.&nbsp;

<ul>
<li>US inflation data to be released today, seen at 3.6%</li>
<li>US inflation expectation at decade high&nbsp;</li>
<li>Prices of goods imported from China see biggest gain in 9 years</li>
<li>China inflation clocks in highest since 2017&nbsp;</li>
<li>Global commodity prices continue to hit record high&nbsp;</li>
</ul>

Price rise across the globe has started to heat up and that is beginning to worry investors that have been very comfortable with the easy money policy. Here are some of inflation headlines that are sending jitters to global investors -:
<ul>
<li>US headline inflation expected to rise to 3.6% this month, and the reality is much higher as very low base is keeping this number muted&nbsp;</li>
<li>Indications from the bond market signal that U.S. inflation expectations have surged to the highest in a decade.</li>
<li>Import prices of goods to the U.S. from China rose 1.8% in March , the biggest gain in almost nine years</li>
<li>China&rsquo;s&nbsp;producer price index&nbsp;climbed by the most since 2017 in April</li>
<li>Global commodity supercycle continues, copper to corn all commodities surge to record high.</li>
</ul>

The market mayhem on Monday played havoc for bond street as well as the Rupee plunged past the 75 mark but reports indicate the central bank stepped in to save the day for the currency.&nbsp;As per unconfirmed reports RBI&nbsp;sold an estimated $600 million in the exchange traded futures market to contain the fall of the rupee against the US dollar.&nbsp;Since April 5 the rupee has lost nearly 2.5% vs the dollar.&nbsp;

RBI to the rupee rescue as currency stumbles near August lows

RBI&nbsp;stepped in to save the day on Monday as rupee tumbled beyond the 75 mark to the dollar.&nbsp;

<ul>
<li>RBI&nbsp;rescues the rupee as it fell below 75 mark on Monday&nbsp;</li>
<li>RBI&nbsp;sold $600 mn&nbsp;exchange traded futures market: reports&nbsp;</li>
<li>Rupee down 2.5% vs the dollar since April 5&nbsp;</li>
</ul>

The market mayhem on Monday played havoc for bond street as well as the Rupee plunged past the 75 mark but reports indicate the central bank stepped in to save the day for the currency.&nbsp; As per unconfirmed reports RBI&nbsp;sold an estimated $600 million in the exchange traded futures market to contain the fall of the rupee against the US dollar.&nbsp; Since April 5 the rupee has lost nearly 2.5% vs the dollar.&nbsp;

As investors await earnings from India's largest software exporter TCS, here are a few numbers the street is expecting -:

Dollar revenue seen rising over 4% (QoQ), margins expected to be flat with a slight expansion bias.&nbsp;
Revenue growth to be led by large deals&nbsp;like&nbsp;Postbank and Prudential Financial&nbsp;
Likely to be outpace peers in revenue and margin growth&nbsp;

Stock perched up at a 52 week high has outperformed the tech index in the year so far rallying over 15% vs a mere 5% rise in the Nifty in the same period. Earnings expected post markets today.&nbsp;

Boardroom Buzz: TCS Q4 earnings today, key numbers to watch

India's largest software exported TCS&nbsp;reports earnings post market today, here is what experts are expecting.&nbsp;

Boardroom Buzz: TCS earnings today, key numbers to watch

<ul>
<li>TCS&nbsp;eanings post market today, $ Revenue growth seen above 4% (QoQ)</li>
<li>Large deal wins like Postbak and Prudential to drive growth&nbsp;</li>
<li>TCS&nbsp;stock is up 15% YTD&nbsp;vs 5% rise in Nifty in the same period</li>
</ul>

As investors await earnings from India's largest software exporter TCS, here are a few numbers the street is expecting -:
<ul>
<li>Dollar revenue seen rising over 4% (QoQ), margins expected to be flat with a slight expansion bias.&nbsp;</li>
<li>Revenue growth to be led by large deals&nbsp;like&nbsp;Postbank and Prudential Financial&nbsp;</li>
<li>Likely to be outpace peers in revenue and margin growth&nbsp;</li>
</ul>
Stock perched up at a 52 week high has outperformed the tech index in the year so far rallying over 15% vs a mere 5% rise in the Nifty in the same period. Earnings expected post markets today.&nbsp;

Rupee sank 105 paise&nbsp; vs the US dollar to close at 74.47 on Wednesday amid concerns over surging COVID-19 cases. It marks the biggest one day fall for the Rupee in nearly 2 years.&nbsp;Strengthening crude prices and also a stronger dollar on the back of Fed meeting minutes added pressure onto the local currency driving it to the biggest fall since August 2019.&nbsp;
The drop has taken the rupee to a four month-low vs the US dollar. StanChart is expecting the Rupee to drop as low at 76/$ by the year end.&nbsp;

Rupee tumbles the most in nearly 2 years as Covid worries haunt again

Rupee sinks to a 4 month low vs the dollar as it witnesses the single biggest drop since August 2019.&nbsp;

<ul>
<li>Rupee sees biggest single day drop since August 2019</li>
<li>Rupee sinks 105 paise vs US Dollar, ends at 74.47</li>
<li>Rupee now at a 4-month low vs the dollar&nbsp;</li>
</ul>

Rupee sank 105 paise&nbsp; vs the US dollar to close at 74.47 on Wednesday amid concerns over surging COVID-19 cases. It marks the biggest one day fall for the Rupee in nearly 2 years.&nbsp; Strengthening crude prices and also a stronger dollar on the back of Fed meeting minutes added pressure onto the local currency driving it to the biggest fall since August 2019.&nbsp;
The drop has taken the rupee to a four month-low vs the US dollar. StanChart is expecting the Rupee to drop as low at 76/$ by the year end.&nbsp;

India's&nbsp;forex reserves declined by $2.9 billion to reach $579.28 billion in the week ended March 26, this marks a total up mop up of $101.5 bn in FY21 the highest ever rise in a single financial year.&nbsp;
At $579.2 billion India's forex&nbsp;kitty&nbsp;is ranked third in the world after Japan and China.&nbsp;India's forex&nbsp;cover has grown over 5 times since 2003 when it hit $100 bn for the first time in December 2003. Experts see the kitty growing to over $640 bn by FY'22 fiscal year end.&nbsp;India currently has an import cover of nearly 18 months.&nbsp;
&nbsp;

India's forex kitty drops in final week of march, FY'21 mop-up highest ever

India's&nbsp;forex reserves declined by $2.9 billion to reach $579.28 billion in the week ended March 26, this marks a total up mop up of $101.5 bn in FY21 the highest ever rise in a single financial year.&nbsp;
At $579.2 billion India's forex&nbsp;kitty&nbsp;is ranked third in the world after Japan and China.&nbsp; India's forex&nbsp;cover has grown over 5 times since 2003 when it hit $100 bn for the first time in December 2003. Experts see the kitty growing to over $640 bn by FY'22 fiscal year end.&nbsp; India currently has an import cover of nearly 18 months.&nbsp;
&nbsp;

<ul>
<li>India's&nbsp;forex reserves drop by&nbsp;$2.9 billion for week ended March 26</li>
<li>FY'21 forex&nbsp;reserve mop-up at $101 bn, highest ever&nbsp;</li>
<li>India's forex reserves third highest in the world after Japan, India</li>
<li>India's import cover at 18 months&nbsp;</li>
</ul>

India's&nbsp;forex reserves declined by $2.9 billion to reach $579.28 billion in the week ended March 26, this marks a total up mop up of $101.5 bn in FY21 the highest ever rise in a single financial year.&nbsp;
At $579.2 billion India's forex&nbsp;kitty&nbsp;is ranked third in the world after Japan and China.&nbsp; India's forex&nbsp;cover has grown over 5 times since 2003 when it hit $100 bn for the first time in December 2003. Experts see the kitty growing to over $640 bn by FY'22 fiscal year end.&nbsp; India currently has an import cover of nearly 18 months.&nbsp;
&nbsp;

Rupee is continuing it's slide even after Tuesday's slide wiped the currency's gain for the month of March where it was the outperforming currency in the region.&nbsp;Trading around 73.5/$ mark, the rupee is at the lowest level since March 1. Traders see pressure on the currency as state owned banks look to buy dollars ahead of year closing.&nbsp;Bloomberg&nbsp;reports that StanChart&nbsp;expects the rupee to further decline all the way to 76.5/$ by year end, which marks a drop over 4% from current levels.&nbsp;

Rupee continues slide hits one month low, StanChart sees slide to 76.5/$ by year end

The rupee rally seems to be over, with a gush of greenback buying the currency is now at a 1 month low. StanChart&nbsp;sees the currency falling all the way to 76.5/$

<ul>
<li>Rupee erases gains for the month of March</li>
<li>Rupee hits lowest level since March 1 around 73.5/$</li>
<li>PSU-banks look to buy dollars ahead of year closing&nbsp;</li>
<li>StanChart&nbsp;sees rupee headed lower to 76.5/$ by year end</li>
</ul>

Rupee is continuing it's slide even after Tuesday's drop which wiped the currency's gain for the month of March where it was the outperforming currency in the region.&nbsp; Trading around 73.5/$ mark, the rupee is at the lowest level since March 1. Traders see pressure on the currency as state owned banks look to buy dollars ahead of year closing.&nbsp; Bloomberg&nbsp;reports that StanChart&nbsp;expects the rupee to further decline all the way to 76.5/$ by year end, which marks a drop over 4% from current levels.&nbsp;

In a big&nbsp;blow to blockchain enthusiasts&nbsp;Federal Reserve Chairman Jerome Powell said cryptocurrencies are primarily &ldquo;a speculative asset&rdquo;&nbsp;and the US central bank was in no&nbsp;rush to introduce a&nbsp;digital currency.&nbsp;
Backing the greenback as the only stable form of currency Fed Chief&nbsp;said&nbsp;It&rsquo;s (Bitcoin) is more a speculative asset that&rsquo;s essentially a substitute for gold rather than for the dollar.&rdquo;

Fed Chief warns against cryptocurrencies, calls it a replacement for gold not dollar

Fed Chief slams down the cryptocurrency hype, says it's too volatile and not a replacement for the dollar.&nbsp;

Fed Chief warns against cryptocurrencies

In a big&nbsp;blow to blockchain enthusiasts&nbsp;Federal Reserve Chairman Jerome Powell said cryptocurrencies are primarily &ldquo;a speculative asset&rdquo;&nbsp;and the US central bank was in no&nbsp;rush to introduce a&nbsp;digital currency.&nbsp;
Backing the greenback as the only stable form of currency Fed Chief&nbsp;said&nbsp;It&rsquo;s (Bitcoin) is more a speculative asset that&rsquo;s essentially a substitute for gold rather than for the dollar.&rdquo;

Currency in Turkey tumbles towards a record low as the country's President replaced the central bank governor.&nbsp;The Turkish lira plunged as much as 15% against the dollar.&nbsp;Forex traders said there was uncontrollable selling on the Lira as soon as the markets opened for trade. Traders are expecting a big intervention from the govt led banks to support the Lira in the short term.&nbsp;As per a Goldman Sachs report&nbsp;Turkish banks spent more than $100 billion of the nation&rsquo;s foreign reserves to support the currency.&nbsp;
&nbsp;
&nbsp;

Turkish Lira crumbles near record low with change of guard at central bank

Flurry in the forex&nbsp;market as Turkish Lira collapses to near record low as there is a surprise change of guard at the central bank over the weekend.&nbsp;

Currency in Turkey tumbles towards a record low as the country's President replaced the central bank governor.&nbsp;The Turkish lira plunged as much as 15% against the dollar.&nbsp;
Forex traders said there was uncontrollable selling on the Lira as soon as the markets opened for trade. Traders are expecting a big intervention from the govt led banks to support the Lira in the short term.&nbsp;
As per a Goldman Sachs report&nbsp;Turkish banks spent more than $100 billion of the nation&rsquo;s foreign reserves to support the currency.&nbsp;
&nbsp;
&nbsp;

Currency in Turkey tumbles towards a record low as the country's President replaced the central bank governor.&nbsp;The Turkish lira plunged as much as 15% against the dollar.&nbsp; Forex traders said there was uncontrollable selling on the Lira as soon as the markets opened for trade. Traders are expecting a big intervention from the govt led banks to support the Lira in the short term.&nbsp; As per a Goldman Sachs report&nbsp;Turkish banks spent more than $100 billion of the nation&rsquo;s foreign reserves to support the currency.&nbsp;
&nbsp;
&nbsp;

India's forex reserves at $580.3 billion are now the 4th largest in the world.&nbsp;
Even though for the week ended March 5 India's reserves fell by&nbsp;$4.3 billion, the slide in Russia's reserves were steeper to edge India up to the 4th rank in reserve holdings.&nbsp;India's reserves currently covers over 18 months of imports.&nbsp;
China tops the reserve holdings with a total of $3.2 trillion
&nbsp;

India's forex reserves overtake Russia's kitty 

India's forex reserves at $580.3 billion are now the 4th largest in the world.&nbsp;
Even though for the week ended March 5 India's reserves fell by&nbsp;$4.3 billion, the slide in Russia's reserves were steeper to edge India up to the 4th rank in reserve holdings.&nbsp; India's reserves currently covers over 18 months of imports.&nbsp;
China tops the reserve holdings with a total of $3.2 trillion
&nbsp;

India's forex reserves at $580.3 billion are now the 4th largest in the world.&nbsp;
Even though for the week ended March 5 India's reserves fell by&nbsp;$4.3 billion, the slide in Russia's reserves were steeper to edge India up to the 4th rank in reserve holdings.&nbsp;
India's reserves currently covers over 18 months of imports.&nbsp;
China tops the reserve holdings with a total of $3.2 trillion
&nbsp;

India's forex reserves at $580.3 billion are now the 4th largest in the world.&nbsp;
Even though for the week ended March 5 India's reserves fell by&nbsp;$4.3 billion, the slide in Russia's reserves were steeper to edge India up to the 4th rank in reserve holdings.&nbsp; India's reserves currently covers over 18 months of imports.&nbsp;
China tops the reserve holdings with a total of $3.2 trillion
&nbsp;

Reports indicate the food delivery unicorn Zomato is eyeing a $ 1 bn IPO as early as June. Zomato had recently raised $250 million&nbsp;pushing&nbsp;its&nbsp;valuation to $5.4 billion.&nbsp;&nbsp;
Falguni Nayar led cosmetic-tech&nbsp;app that took under 8 years to become a&nbsp;billion-dollar&nbsp;company is also close to a second round of fund raising. Reports indicate this round will lead to the company&nbsp;doubling&nbsp;its&nbsp;valuation to $ 2 bn.&nbsp;&nbsp;
Policy Bazaar&nbsp;has also raised $45 million a recent funding spree as per reports which is now valuing the Bengaluru based insurance&nbsp;aggregator&nbsp;at $2.4 billion.&nbsp;&nbsp;

Start Up Unicorns see fund raising spree, see billion dollar IPOs

Reports indicate the food delivery unicorn Zomato is eyeing a $ 1 bn IPO as early as June. Zomato had recently raised $250 million&nbsp;pushing&nbsp;its&nbsp;valuation to $5.4 billion.&nbsp;&nbsp;
 Falguni Nayar led cosmetic-tech&nbsp;app that took under 8 years to become a&nbsp;billion-dollar&nbsp;company is also close to a second round of fund raising. Reports indicate this round will lead to the company&nbsp;doubling&nbsp;its&nbsp;valuation to $ 2 bn.&nbsp;&nbsp;
 Policy Bazaar&nbsp;has also raised $45 million a recent funding spree as per reports which is now valuing the Bengaluru based insurance&nbsp;aggregator&nbsp;at $2.4 billion.&nbsp;&nbsp;

Start-Up Fund Raising Rush, IPOs and More

Reports indicate the food delivery unicorn Zomato is eyeing a $ 1 bn IPO as early as June. Zomato had recently raised $250 million&nbsp;pushing&nbsp;its&nbsp;valuation to $5.4 billion.&nbsp;&nbsp;
 Falguni Nayar led cosmetic-tech&nbsp;app Nykaa, that took under 8 years to become a&nbsp;billion-dollar&nbsp;company, is also close to a second round of fund raising. Reports indicate this round will lead to the company&nbsp;doubling&nbsp;its&nbsp;valuation to $ 2 bn.&nbsp;&nbsp;
 Policy Bazaar&nbsp;has also raised $45 million in a recent funding spree as per reports which is now valuing the Bengaluru based insurance&nbsp;aggregator&nbsp;at $2.4 billion.&nbsp;&nbsp;

Reports indicate the food delivery unicorn Zomato is eyeing a $1 bn IPO as early as June. Zomato had recently raised $250 million&nbsp;pushing&nbsp;its&nbsp;valuation to $5.4 billion.&nbsp;&nbsp; Falguni&nbsp;Nayar-led&nbsp;cosmetic-tech&nbsp;app Nykaa, which took under 8 years to become a&nbsp;billion-dollar&nbsp;company, is also close to a second round of fundraising. Reports indicate this round will lead to the company&nbsp;doubling&nbsp;its&nbsp;valuation to $2 bn.&nbsp;&nbsp;
 Policy Bazaar&nbsp;has also raised $45 million in a recent funding spree as per reports which is now valuing the Bengaluru-based&nbsp;insurance&nbsp;aggregator&nbsp;at $2.4 billion.&nbsp;&nbsp;

Global markets under pressure as Wall Street saw the worst sell-off since October. 

Share Market News: Global markets sell off as yields continue to spike

Global markets under pressure as Wall Street saw the worst sell-off since October. The 500 stock gauge S&amp;P saw the biggest drop in a month sliding&nbsp;2.5%.&nbsp; The tech tumble exaggerated it's losses with the Nasdaq&nbsp;Composite&nbsp;slid 3.5%, this marks it's biggest sell-off since Oct. 28. Marquee names like&nbsp;Alphabet, Facebook, and Apple all fell more than 3%, while Tesla sunk another 8%.
Traders were spooked as the 10 year yield sky rocketed to the highest level since Feb 2020 in what many traders called a flash spike.&nbsp; Higher rates on the yield signal bad news for corporates&nbsp;especially tech companies that bank of them for lower borrowing rates.&nbsp;

Global Markets See Sell Off 

Global markets under pressure as Wall Street saw the worst sell-off since October. The 500 stock gauge S&amp;P saw the biggest drop in a month sliding&nbsp;2.5%.&nbsp; The tech tumble exaggerated it's losses with the Nasdaq&nbsp;Composite&nbsp;slid 3.5%, this marks it's biggest sell-off since Oct. 28. Marquee names like&nbsp;Alphabet, Facebook, and Apple all fell more than 3%, while Tesla sunk another 8%.
Traders were spooked as the 10 year yield sky rocketed to the highest level since Feb 2020 in what many traders called a flash spike.&nbsp;
Higher rates on the yield signal bad news for corporates&nbsp;especially tech companies that bank of them for lower borrowing rates.&nbsp;

Global markets under pressure as Wall Street saw the worst sell-off since October. The 500 stock gauge S&amp;P saw the biggest drop in a month sliding&nbsp;2.5%.&nbsp; The tech tumble exaggerated it's losses with the Nasdaq&nbsp;Composite&nbsp;slid 3.5%, this marks it's biggest sell-off since Oct. 28. Marquee names like&nbsp;Alphabet, Facebook, and Apple all fell more than 3%, while Tesla sunk another 8%.
Traders were spooked as the 10 year yield sky rocketed to the highest level since Feb 2020 in what many traders called a flash spike.&nbsp; Higher rates on the yield signal bad news for corporates&nbsp;especially tech companies that bank of them for lower borrowing rates.&nbsp;

After rising over 60% in February itself, the Bitcoin&nbsp;rally seems to be taking a breather. The cryptocurrency&nbsp;fell over 16% in trade in New York falling below the $50,000 mark. The digital token took a $8000 beating over just a few hours as analysts questioned the 94% rise in just this year so far.&nbsp;
This comes after Elon&nbsp;Musk tweeted that the cryptocurrency&nbsp;does seem a bit "high". Tesla has invested over $1.5 billion in Bitcoin.&nbsp;
Meanwhile US Treasury Secretary has said that Bitcoin is a highly speculative asset and extremely inefficient way to do transactions

BITCOIN BELOW $50,000

After rising over 60% in February itself, the Bitcoin&nbsp;rally seems to be taking a breather,&nbsp;cryptocurrency&nbsp;fell over 16% in trade

Bitcoin's Big Tumble

After rising over 60% in February itself the Bitcoin&nbsp;rally seems to be taking a breather. The cryptocurrency&nbsp;fell over 16% in trade in New York falling below the $50,000 mark. The digital token took a $8000 beating over just a few hours as analysts questioned the 94% rise in just this year so far.&nbsp;
This comes after Elon&nbsp;Musk tweeted that the cryptocurrency&nbsp;does seem a bit "high". Tesla has invested over $1.5 billion in Bitcoin.&nbsp;

After rising over 60% in February itself, the Bitcoin&nbsp;rally seems to be taking a breather. The cryptocurrency&nbsp;fell over 16% in trade in New York falling below the $50,000 mark. The digital token took a $8000 beating over just a few hours as analysts questioned the 94% rise in just this year so far.&nbsp;
This comes after Elon&nbsp;Musk tweeted that the cryptocurrency&nbsp;does seem a bit "high". Tesla has invested over $1.5 billion in Bitcoin.&nbsp;
Meanwhile US Treasury Secretary has said that Bitcoin is a highly speculative asset and extremely inefficient way to do transactions

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