Connect with us

Business

Indian rupee weakens new rate 1 Dirham is now at 20.33.

Published

on

indian rupee vs dirham

Once again Indian rupee weakens. Now the new rate o1 Dirham is now at 20.33 Indian rupees. Indian currency going down against dollars and Dirhams. See the new rates. 

indian-rupee falls vs dollar

indian-rupee falls vs dollar

Reason for Indian Rupee falling against Dirham:

Rising crude oil prices and risk-off attitudes could weigh on the markets. The Indian rupee devalued 32 paise to 74.63 against the US dollar (20.33 vs the UAE dirham) in opening trade on Tuesday 5th October 2021. Tracking the strength of the American money in the overseas market and a softening trend in domestic equities. Indian rupee weakens is not a good sign for Asian market.

Indian interbank foreign exchange:

At the Indian interbank foreign exchange, the rupee began on a weak note at 74.63. Today registering a drop of 32 paise from the last close. Indian currency vs Dirham has fallen at the same rate now at 20.33. The dollar index, which measures the greenback’s power against a basket of six currencies, rose 0.22 per cent to 93.98.

Sriram Iyer:

Senior research analyst at Reliance Securities said the Indian rupee began weakly. This Tuesday morning, against the Dollar, the Indian rupee was struggling. Tracking the strength of the greenback.

Crude oil prices:

Additionally, rising crude oil prices and risk-off views could weigh on the markets, he said. Most emerging businesses and Asian money have begun to weaker. Tuesday morning and will balance on opinions, Iyer wrote.

Indian equity market:

On the Indian equity market front, the 30-share Sensex was buying 107.05 points or 0.19 per cent lower at 59,192.30. The broader NSE Nifty trading 22.55 points or 0.14 per cent down at 17,668.80. Know why facebook, instagram and Whatsapp server was down.

Indian currency after COVID-19:

Indian market is struggling against the Dollar and other currencies. There are many reasons behind this fall. Coronavirus has affected the nationa badly. But Modi Govt of India is trying hard to bounce back. India, we all know, is the fastest-growing nation in Asia. Surely we will see a good recovery of Indian currency in a short time.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Chinese making new Dubai in Srilanka Colombo Port City; see pictures.

Published

on

new dubai and honkong city in srilanka

Srilanka is getting new makeup from China, a new Port city of Srilanka turning into new Dubai. Chinese making new Dubai in Srilanka Colombo Port city, pictures are stunning. 

new dubai in srilanka made by chinese

It can be a game-changer for Lanka, but the question remains how will china work after a time. We all know how dominant is China. Srilanka has taken risks that can better or take them to hell. Whatever it is will know in future. But currently, pictures coming from Colombo fort city are no lesser than Dubai. Chinese are making something unique and eye-catching buildings and roads in Srilanka. 

High tech city of Srilanka:

It is becoming a high-tech city from a low side port place of Srilanka. Chinese making new Dubai in Srilanka Colombo Port City and it will become the next hong kong and Dubai of the world, says developers of China. We all know land is given for a 99year lease to China. The place is now getting high-class infrastructure which Srilanka never expected. It is an all-new Dubai in Srilanka. 

After several years of dredging, building activity is gaining momentum, and the new city is taking shape.

Giant cranes led by Chinese engineers move concrete slabs while earthmovers fill trucks with tons of sand. A river parting through the recycled land has already been dredged, allowing small ships and yachts access.

Officials estimate it will take about 25 years to complete the first of its kind in South Asia.

No tax for people living there:

Sri Lanka will give the land under its management, and the area assigned to the Chinese will be contracted to global firms, banks, and other companies. The govt may also assess a levy on their revenue.

More than 80,000 people will live in the new city, which will offer tax holidays for those who fund and do trade there. All businesses in the special economic zone, including earnings, will be in US dollars.

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

Continue Reading

Business

Digital currencies Bitcoin, Ethereum, Dogecoin’s ongoing downfall continues.

Published

on

Digital currencies 2022

After touching a sky-high of $68990.90 in 2021 Crypto and other Digital currencies Bitcoin, Ethereum continues to go in another direction. 

cryptocurrency

cryptocurrency

Digital currencies Bitcoin and all are having a tough time moving positive side from past few weeks. After touching record, high Bitcoin is constantly falling in downside. 

The biggest Crypto has fallen by 1%, which is not a small margin for any investor. Currently, it is moving around $42000 level. Bitcoin’s other digital assets like Ethereum and Dogecoin are also falling down from their high. 

Digital currencies 2022

Digital currencies 2022

Also read about Chamath Palihapitiya Billionaire view on China’s abuses on Uyghurs.

Upperside expected:

All the investors who are into this business are still optimistic. Despite ongoing volatility, they feel digital currencies will see a new high in 2022. But in reality, if you see Crypto has fallen by 30% from the top. 

Use of digital currencies worldwide:

On the other side use of digital currencies is growing in many countries. It is a good sign now people believe in these currencies. From Germany to the U.K. and the U.S., every nation’s residents use this currency and are bullish about the positive future. 

More than 75% are keen to buy crypto products worldwide. So in the next 12 months, we can expect much more highs in this field. Investors who have already invested can remain in the market for a longer time. More joys to come in 2022, say experts. 

Investing approach has changed with Crypto coming into existence. People want something new in the market. So we can expect digital currencies to grow more in 2022. 

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

Continue Reading

Business

Chamath Palihapitiya Billionaire feels it’s disappointing ‘no one cares about Uyghurs in China.’

Published

on

Chamath Palihapitiya Billionaire

In his recent Podcast, Chamath Palihapitiya Billionaire investor, talked about abuses happening with Uyghurs in China. It’s sad no one in the world is damn caring about what’s happening with the Uyghurs community in China. 

Torcher happening with Uyghurs and other Muslim minorities is sad. It is forced labor work and mass torching of communities that are not Chinese. Said Chamath Palihapitiya Billionaire investor.

Chamath said he is concerned about the supply chain, climate change, and Health system of America. China taking over Taiwan and Uyghurs facing problems is also a big concern. 

Billionaire investor Chamath Palihapitiya began a backlash on social media after speaking during a recent outbreak of his podcast that “nobody cares” about the ongoing human rights vitriols against the Uyghurs in China.

90 minute podcast of Chamath Palihapitiya investor:

In his 90-minute episode, Palihapitiya told co-host, Jason Calacanis, on their “All-In” podcast that he would be fibbing if he said he oversaw the Uyghurs, an ethnic Muslim minority in China’s northwest province of Xinjiang.

Every time I say that I care about the Uyghurs, I’m just lying if I don’t care. And so, I’d rather not lie to you and tell you the truth; it’s not a focus for me,” said Palihapitiya, a happening capitalist who owns 10% of the NBA team, the Golden State Warriors. From BBC.

Chamath Palihapitiya A Refugee:

Chamath also said as a refugee, my family flew a nation with its own set of human rights problems. So this is something that is very much a piece of my lived background,” said Palihapitiya, who was born in Sri Lanka. To be precise, my view is that human rights matter, whether in China, the US, or elsewhere. 

White house on human crimes in China:

The White House told a diplomatic boycott of the 2022 Winter Olympics in Beijing, citing “ongoing genocide and offenses against humanity in Xinjiang and other human liberties abuses.” This was in last month, December 2021. 

UN bureaucrats have earlier voiced worry over Beijing’s extreme measures of stopping those who condemn the Chinese Communist Party.

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

 

Continue Reading

Trending

Copyright © 2021 Arab Market News