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DMS-1122: Stock Market News
Original: DMS -1122 Stock Market News | #dailymoneyshow
Takeaway
RBI greenlighting INR settlement for international trade is a major de-dollarization step — and a China-India-Russia BRICS alignment would shock the US.
Summary
- Sensex -765 to 79,857; Nifty -232 to 24,363; midcap -1.52%, smallcap -1.26%, Bank Nifty -0.93%
- China issued statements supporting India in the tariff war (without naming Trump), saying one country shouldn't force trade deals via tariffs
- Brazil's president called Modi to discuss the tariff issue; Modi to visit China end-August for major meeting with Xi Jinping and Putin
- India won't abandon Russia for US — long-standing friendship; US's bigger fear is China-India-Russia (plus BRICS) building alternative currency to dollar
- RBI approved banks opening special rupee warehouse accounts without prior approval, enabling international invoicing/payment settlement in INR for imports/exports
daily marketBRICSrupee internationalization
Original description
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