archivelocal currency

(Bloomberg) -- A recent surge in Asian currencies is shifting the outlook for the region’s equities, with money managers and strategists favoring stocks tied to local consumption and expecting a return of global funds. Most Read from Bloomberg Morgan Stanley strategists said they like markets including India and the Philippines, where stocks tend to be more geared toward domestic demand. They favor sectors such as real estate and financials. Aberdeen Investments prefers defensive plays like consumer and healthcare stocks, while Societe Generale SA sees India as a major beneficiary from...

In a significant move towards enhancing economic ties, India and Mauritius announced an agreement to enable trade using local currencies. A Memorandum of Understanding (MoU) was struck between the two nations' central banks to promote trade in the Indian Rupee (INR) and the Mauritian Rupee (MUR).The MoU, formalized on March 12, 2025, in the presence of Prime Minister Narendra Modi and his Mauritian counterpart Navinchandra Ramgoolam, will establish the INR-MUR Local Currency Settlement (LCS) System. This system aims to minimize dependence on hard currencies in cross-border transactions, as confirmed...