FTX Crypto Cup: Praggnanandhaa beats Carlsen in final round but loses out on top prize
Miami (PTI): Young Indian Grandmaster R Praggnanandhaa produced a superb performance, wining three straight games including two in the blitz tie-breaks to outwit world No.1 Magnus Carlsen 4-2 in the final round of the FTX Crypto Cup here on Monday.
However, despite the win over Carlsen, the 17-year old could only take second place in the final standings.
The Norwegian won the top prize on the basis of a higher score. He finished with 16 match points to the Indian prodigy's tally of 15.
"I've been playing badly all day, but now I'm getting the results I deserve... it's never good to lose, but this is as good a time as any!," Carlsen said after the match.
Alireza Firouzja, another highly-rated teen and a prodigy, also finished on 15 points but had to settle for third place as he had lost the clash against Praggnanandhaa earlier.
The first two games of the Carlsen-Praggnanandhaa match were drawn before the world No.1 went ahead by clinching the third.
In a surprise turn of events, the Indian won the fourth game to push the match into the tie-breaks. He shocked the Norwegian by winning both the games in the tie-break.
Praggnanandhaa has been in splendid form this year and had previously beaten the world champion twice in online events.
He also played a crucial role in the India 'B' team claiming a bronze medal in the 44th chess Olympiad in Chennai recently.
"I think it could have done better the last few days but I think overall 2nd is good," Praggnanandhaa said after the game against Carlsen.
Praggnanandhaa started his campaign with victory over world No.4 Firouzja and also scored wins over Anish Giri and Levon Aronian.
"Fantastic finish towards the end! @rpragchess won in blitz tiebreak against Magnus #FTXCryptoCup ! Great defensive skills at crucial junctures, some good opening preparations, some bad decisions, overall very satisfying," his coach R B Ramesh tweeted.
In other matches in the final round, Firouzja beat Aronian 2.5-1.5, Quang Liem Le (China) beat Hans Niemann, while Jan-Krzystof of Poland thrashed Anish Giri 2.5-0.5.
The eight-player all-play-all tournament was the American finale of the Champions Chess Tour. Each match was played over four rapid games, with blitz tiebreaks in case of a 2-2 draw.
Final placings: 1. Magnus Carlsen 16 match points, 2. R Praggnanandhaa 15, 3. Alireza Firouzja 15, 4. Liem Le 12, 5. Jan-Krzystof Duda 11, 6. Levon Aronian 8, 7. Anish Giri, 8. Hans Niemann 0.
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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.
