
Will Sensex, Nifty snap 7 sessions gaining streak? Dr Reddy’s, Bharti Airtel, M&M, IRCON stocks eyed
The BSE Sensex and Nifty50 are likely to open lower on Thursday, tracking soft cues from global peers and negative trend at Gift Nifty.
The BSE Sensex and Nifty50 are likely to open lower on Thursday, tracking soft cues from global peers and negative trend at Gift Nifty.
The rupee is holding strong against the dollar index compared with six major currencies in Asia.
This comes a month after PM Modi and U.A.E. President discussed developing the local currency settlement system between the two countries to settle bilateral trade.
With Russia, India has initiated "rupee trade mechanism" for trade in INR; with Iran, bilateral trade payments arrangement was adopted in 2018, says govt
Indian oil refining firms paying in Yuan for Russian oil may be inevitable but would open a floodgate to weaken INR further; Brazil, B'desh, and Argentina shifting to Yuan trade is a big threat too
Shares of TCS, Infosys, Wipro, HCL Technologies, and Tech Mahindra fell up to 2%, in sync with a weak broader market.
The suggestion came during the National Council Meeting of SJM held in Pune during the 3rd and 4th of June.
The 'R' Club' led by rupee, renminbi, rouble, real, rand, riyal, rupiah & ringgit is posing serious threat to the greenback.
Countries wary of excessive dollar outflows, especially those who run trade deficit with India, have started signing rupee trade settlement deals.
How China is using diplomacy to dethrone the USD and establish Renminbi as global currency