Discover and read the best of Twitter Threads about #rupee

Most recents (24)

#Wipro’s net profit drops 12% drop in Q1 as #recession fears grip its non-US clients

businessinsider.in/business/corpo…

By @jainrounak
IT services major #Wipro today reported a 12% decline in its #profits to ₹2,717 crore in the first quarter, as against ₹3,087 crore in the previous quarter.

The IT company’s revenues grew 3% sequentially to ₹22,001 crore in the same period, in line with analyst expectations.
Offering guidance for the September quarter, #Wipro said it expects IT services business revenue to be in the range of $2.82-2.87 billion, which translates to a sequential 3-5% growth.

However, Wipro CEO and MD Thierry Delaporte said the company is “pleased with the outcomes”.
Read 6 tweets
It’s Wednesday, which means it’s time to take stock of the week so far, draw on reserves, and soldier on (and uncover some facts while at it). Today, we dissect the RBI’s recent move to allow & encourage #foreigntrade payments to be made in INR. (1/8)
It’s a long-term plus for the Indian #economy and good news for the long-term investor. So, grab that coffee from the break room, and let’s delve into the long and short of it. (2/8)
The #RBI recently issued a circular that detailed an ‘additional arrangement’ for invoicing, payment, and settlement of #exports and #imports using the Indian #rupee as currency. (3/8)
Read 8 tweets
The #Rupee falling doesn't just make your shopping more expensive when you travel abroad but impacts the entire Indian economy 🇮🇳

Here are some sectors it impacts 👇
Positive Impact ➕

IT 💻
Garments 🧥
Tea 🫖
Steel 🏗️

Companies in these sectors can expect to see profits rise as they are heavy exporters 📈
Negative Impact ➖

Renewable Energy ☀️
Automobile 🚗
FMCG 🛍️
Aviation ✈️
Telecom 📶
Cement 🧱

Companies in these sectors can see a significant rise in their costs as they depend a lot on imports which are crucial for their business models leading to a decrease in profits 📉
Read 4 tweets
#Rupee has fallen far lower Vs #Dollar,comparatively👇

Euro,2 days ago,went below $1 for 1st time in 20yrs,reflecting big weakness in #Euro

Rupee,displaying strength,has risen big time against Euro,Pound &Yen💪

So #Madarsa dentists from Congress should stop lecturing on Rupee
@narendramodi govt in a landmark measure has allowed international trade settlement in #Rupees

Explained👇
When countries import&export goods&services,they have to make payments in foreign currency

Since US Dollar is world’s reserve currency,most trades are entered into in USD
Here,both parties involved have to incur conversion expenses&bear risk of foreign exchange rate fluctuations

This is where trade settlement in Rupee comes in-instead of paying &receiving US Dollars,invoice will be made in Indian Rupees if counterparty has #Rupee Vostro account
Read 6 tweets
Decoded: How the #Rupee trade settlement is tied to India’s trade deficit and forex reserves

businessinsider.in/finance/news/w…

By @jainrounak
India is a trade deficit country, meaning it imports more than it exports — this forces the country to maintain large forex reserves. The ongoing pressure on the #Rupee and its decline against #dollar pushed #RBI to put in place a mechanism to allow international trade in rupees.
Since India is a net importer – with its imports exceeding exports by over $87 billion in 2021-22 – and the value of Indian #Rupee declining consistently, #RBI’s latest decision to allow international trade in rupees is expected to reduce the pressure on India’s forex reserves.
Read 7 tweets
Explained: International trade settlement in #Rupees and why #RBI is doing it

businessinsider.in/finance/news/w…

By @jainrounak
#RBI’s efforts to keep the #Rupee stable and cut down the use of the US Dollar – a decades-old habit that most of the world seems unable to shake off – has seen an earnest beginning with the central bank now allowing invoicing of international trade in Rupees.

#RupeeVsDollar
What is international trade settlement in #Rupees?

When countries import and export goods and services, they have to make payments in a foreign currency. Since the US Dollar is the world’s reserve currency, most of these transactions are entered into US dollars.

#RupeeVsDollar
Read 8 tweets
Today is #WorldPopulationDay, which reminds us that while #ElonMusk is determined to contribute to increasing the population, he has also managed to upset the existing one, by backing out of the Twitter deal. Good thing that the markets were more stable, than Musk’s mood. 1/7
Talking about the “impending recession” seems to be the trend. So, it was a surprise last week, when both the #Sensex & the #Nifty went ↑ by almost 3%. Potential reasons? Maybe the cooldown in the prices of #commodities. This helps sectors like #Auto, #Realty, & #FMCG. 2/7
So naturally, both the #NiftyFMCG & #NiftyRealty were ↑ over 5%. #NiftyAuto was also ↑ 3.5%. In fact, every sectoral index was painting the town green. Global indices were also mostly up. The S&P 500 was ↑ 1.94% & the #NASDAQ100 ↑ by 4.6%. 3/7
Read 7 tweets
All you need to know about National Savings Certificate (NSC)

- Eligibility Criteria
- Min Max Deposit
- Interest Rate
- Tax Benefits
- Maturity Period
- Withdrawals
- Loan Facility

A 🧵
National Savings Certificate (NSC) is a government-backed investment scheme launched on 8th May 1989 that combines guaranteed returns with tax savings.

#Investment #personalfinance
It's a kind of fixed investment scheme that can be opened in any post office branch. As this instrument is backed by GOI, there is no risk of default.

#Rupee
Read 10 tweets
#RBI kept the #Rupee ‘exceptionally’ stable so far, and the tide could turn for the better say experts

businessinsider.in/finance/news/r…

By @jainrounak Image
A looming global #recession, unprecedented #inflation and a strengthening US dollar has forced central banks around the world to use their forex reserves to keep their currencies from falling. The #RBI has done an ‘exceptional’ job of keeping the rupee stable so far, experts say. Image
Indian markets have remained relatively strong as compared to peers like #Indonesia and #Brazil. Much of this is due to the strong buying by domestic investors even as foreign investors continued to pull out record money from India.

#RBI

businessinsider.in/stock-market/n…
Read 9 tweets
#MCProOpinion: Banks’ results for the March quarter have been excellent, but operating profit growth has hit a soft patch. What can boost their profits in FY23? 🤔

Find out ⏬
moneycontrol.com/news/opinion/i…

by @aparnaviyer02 | #Economy #Bank
#MCProOpinion: The Rupee can weaken further in the near term, but there is something that can save the day over the medium term.

Read at:
moneycontrol.com/news/opinion/r…

#Rupee #Inflation
#MCProOpinion: The impact on the global economy due to China’s zero-COVID policy is just a preview of the disruptions ahead. And that will happen once the economic slowdown in China starts to bite.

Read at: moneycontrol.com/news/opinion/t…

by @SaibalDasgupta | #China #Economy #Lockdown
Read 5 tweets
#Rupee tumbles to a record low of 77.63 against US dollar

The currency hit an all-time low for the second time this week. scroll.in/a/1023752

#RupeeVsDollar
#RupeeVsDollar | On Wednesday, rupee had settled at 77.24.

After today's development, the rupee fell to a record low for the second time this week. scroll.in/a/1023752
“For Indian markets, inflation and Reserve Bank of India’s unexpected rate increase have created some kind of nervousness,” said Kranthi Bathini, director of equities strategy at WealthMills Securities, Reuters reported. scroll.in/a/1023752
Read 4 tweets
Congressi trolls who know nothing about Economy,are giving gyaan on #Dollar& #Rupee

Yes Rupee hit 77.40 to a Dollar,but,but..

Every major currency has hit lows against Dollar

China's Yuan hit 2yr low@ 6.7 to $
Euro hit 5yr low@ 1.04 to a $

#DollarIndex hit 20yr high at 104.07
Some Business News anchors are saying Rupee has fallen against Dollar because our monthly #TradeDeficit is hitting $20bn&our Current Account Deficit(CAD),will be 3%

Well,$20bn a month Trade Deficit is no big deal for us,given that our Goods+Services Exports are a massive $670bn
2.5-3% CAD for an economy growing at average of 7.5-9.5% is not a big deal either

In fact,in last 8yrs,average CAD under @narendramodi govt has been sub 2%,so we have enough leeway on that count

Why then are major Currencies falling against Dollar?

Well,reason is,Fed Rate Hike
Read 5 tweets
Indian Rupee falls to all-time low against US dollar 😲

What does it mean for Common Man? ⤵️

#Rupee #stocks
The primary impact of rupee depreciation is on country's imports, as it becomes more expensive.

This is because it takes more rupees to pay for the same quantum of imports.

Also, this has direct impact on your monthly budget.⤵️
- Cost of your necessities-

Crude oil, fertilizers, medicines and iron ore, which India imports in large quantities will get costlier with fall in rupee value

Though these items are not for your daily consumption, they still have impact on our finances.

How?⤵️
Read 14 tweets
Quick thread on 2022, Ukraine and India
Q: Why does it feel like everything's falling apart since Ukraine ?
A: Things were already pretty bruised. Ukraine has ripped the band-aid off 1/n

Link to my story : thewire.in/economy/the-uk…
#UkraineRussianWar #India @thewire_in
Inflation is now a full-blown problem. Estimates indicate that EVEN if the central government were to cut fuel taxes average CPI inflation for FY’23 could shoot past the RBI’s plimsol line of 6.0%. #inflation #Crude #India #UkraineRussianWar
Growth is now also in question. ICRA sees “large downside risks” to its 8% GDP target. Nomura says there’s downside risks to their GDP growth outlook (7% for 2022), HDFC’s GDP growth forecast might see a further downward revision to 7.3-7.5%.
#India #CrudeOil #Growth #Ukraine️
Read 6 tweets
1/9) 🧵
On #PetroleumPrice hike:
#Fuel prices r giving headaches both to ppl & govt of #Pakistan. Former are finding it difficult to cope with #food & #fuel inflation; the later despite losing PDL & GST #revenue, finding it difficult to reduce the impact of expensive #fuel import
2/9) Quicker than expected increased demand for #energy amidst #Covid19 has triggered 🌎energy prices. coal 🇿🇦, Brent crude, & gas prices increased by 150%, 102% & 500% since Aug 2020.
3/9) Depreciation of value of #rupee against #US$ is also turning imported #fuel more expensive for us. But then artificially stabilising (thru SBP intervention) value of rupee has its own implications
Read 9 tweets
#BudgetWithCNBCTV18 | FM announces voluntary vehicle scrapping policy. Further details for #ScrappagePolicy to be announced shortly

Here are the #StocksInFocus

#Budget2021WithMC
#BudgetWithCNBCTV18 | FM introduces Aatmanirbhar Health Yojana with outlay of Rs 64,180 cr over 6 years. This will strengthen National Centre For Disease Control

Here are the #StocksInFocus

#Budget2021
#BudgetWithCNBCTV18 | DM will introduce bill to set up Development Financial Institution providing Rs 20,000 cr

Here are the #StocksInFocus

#Budget2021
Read 19 tweets
So biggest casualty of #Fed warning on #US #economy y'day, was #Gold,which dropped 3% to $1951.90 an ounce,within minutes of #FedMinutes

Silver too fell below $28

Rout was not limited to precious metals--#Nasdaq sold off despite #Apple hitting $2 trillion market cap

#Covid_19
#CrudeOil whipsawed in tight range with #WTI at $42.83

#Fed's take on economic downturn was nothing new&yet markets collapsed

Only asset which saw aggressive buying was US #Tbills,with 10 yr #bond #yield@ 0.665% Vs previous close of 0.685%

#Dollar had its best day in 2 months
So what does y'day's frenzied buying in #bonds indicate?Is the #RiskOn trade over?

Well,not quite--With $9 trillion of excess global #liquidity sloshing around due to coordinated Central Bank rate cuts,since #Covid_19, equities will move up,albeit with severe bouts of volatility
Read 7 tweets
Tweet (1/n):

Mother Teresa: The Mistaken Saint (Long Thread)
#MotherTeresa #ArundhatiRoy

@Aabhas24 @ARanganathan72
@Aabhas24 @ARanganathan72 Tweet (2/n):

Background:

I was indoctrinated about the greatness of Anjezë Gonxhe Bojaxhiu aka Mother Teresa during my schooling at a convent. Read the story -
#Rupee @sankrant

bit.ly/2U2gI3v
@Aabhas24 @ARanganathan72 @sankrant Tweet (3/n):

But, what first helped create the “illusion” that was Mother Teresa?

The answer: Malcolm Muggeridge ‘s 1969 documentary & 1971 book titled “Something Beautiful for God.”

#AmbedkarStatue @mariawirth1

Book Link - bit.ly/2NvnJsr
Read 35 tweets
So the Rupee is falling and we thought it would be a nice idea if we could post a short thread simplifying a few reasons why our currency is slipping
#RupeeVsDollar #Rupee
1. US-China trade war. Long story short, when two global giants slug it out & bleed themselves dry, it leaves a gaping hole in the global economic fabric. Slow growth globally means slow growth in India because India is also a part of this fabric.
2. Also, there's all this talk about a slowdown & stuff. So investors aren't really stoked about investing in India. Which means that the Indian rupee is no longer in demand because you need the Rupee to invest here. And when something isn't in demand, its value deteriorates
Read 6 tweets
( 1/2) Indian #Market
Domestic
1.Market correction
2.FPI pull out - no +ve changes yet by goi
2.#Rupee weak
3.earnings elusive, expected for downgrade
4.slow demand, consumption weak, economy will get hit
(2/3) Global Factors
1. #TradeWar , #yuan devalued, tumbing of Asian markets, nasdaq and dow Jones.
2.US delayed 10% imposing of tariff on few remaining Chinese goods
3. Hence Gold price fall, silver followed suit, rebound on equity
(3/3) Global factors contd.
3.#Argentina #Marvel crashed 39% in one day
4. #HongKong protest

Ufff.... anything still left to happen🤨

Possible #RBI rate cut due to #CPI easing, #CSR rule lifting might provide relief to #FPI
Read 4 tweets
Some Points for Physical letter which we can send to @FinMinIndia Sir @NischalShetty but i don't think its gonna be a Main Points for Letter, it just my Opinion.

#IndiaWantsCrypto
1. First of all #bitcoin & other #Crypto has Monetary no value if it will not Trade against #Fiat its like Stock Market Shares So, They need to understand their Own power rather than thinking about #Crypto will kill #Fiat & #Banks.
#IndiaWantsCrypto
2. Declare #Crypto as a Global #Commodity with following all guidelines of #FATF & #Sebi. Collaborate with other Nations & Give Licensing to all Indian Exchanges for work and AML, KYC policies. @Facebook @ICE_Markets @Nasdaq @CMEGroup @ING_news @Samsung @Microsoft working on it .
Read 10 tweets
To legitimise ones claim on the #Mughal throne, Khutba had to be read in ones name in the Friday prayers and a Sikka (Coin) had to be struck. Heres a thread of the coins struck in the name of Mughal Emperors with their names highlighted.
Sher-o-Khurshid on a medallion of Jahangir
1. Zahir-ud-din Muhammad #Babur (1526-1530CE)
Known coins: Silver Shahrukhis in his name and Anonymous Copper issues
Known Mints: Agra, Badakshan, Jaunpur, Kabul, Lahore
Coins displayed: #Siver Shahrukhi of #Agra.
@ssharadmohhan @India_Atelier @Bagh_eBabur @iamrana @gypsy_heart6
2. Nasir ud-din Muhammad Humayun (1530-1540/ 1555-1556CE)
Known coins: Gold Mithqals, Silver Shahrukhis and Silver Rupees in his name and Anonymous Copper issues
Known Mints: 11
Coins displayed: #Siver Shahrukhi of #Lahore
@ssharadmohhan @India_Atelier @iamrana @gypsy_heart6
Read 32 tweets
The ghosts of 2008 are back. We had #Lehman. Today we have #ILFS and #RupeeAt75. The bulls have given up. #Sensex is down 4500 points in 25 sessions. As shared by @Prashanth_Krish over 50% of stocks traded on NSE are down 50% or more. Friday’s fall would have made it more brute.
Most of serious investors are fully invested. With the kind of sell-off witnessed in #Bajaj twins, #HDFC twins, #Reliance, #Kotak, quality midcaps/largecaps, no one is spared. Even Portfolios of respected investors like Rakesh J, @porinju, @VijayKedia1, SP Tulsian are down!!
In 2017 everyone made easy money. 2018 made you realise how difficult it is for traders and investors to make money in #stocks. I wish @adhia03 realises the gravity of his mistake by imposing #LTCG by referring stock markets as easy money making medium. #Nifty #Sensex
Read 27 tweets
This thread will throw some facts on the Rupee depreciation which is the talk of the town nowadays especially the opposition and the Anti-Modi gang #RupeeAt73
Here we will compare the currency values of 21 countries - a mix of Asian, Non-Asian, European, American and African countries - some Developed and some Developing countries vis-a-vis $ Dollar starting from 2004 till Sept 2018 #RupeeAt73
Below is the list of countries chosen for comparison with their Developed / Developing status. Note - Developed / Developing status has been derived from Google Search. So I may be wrong at some places. Corrections are welcome #RupeeAt73
Read 30 tweets

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