MUMBAI: Indian shares inched lower Tuesday, tracking global markets in the absence of major domestic triggers, while the rupee slipped below the psychological level of 80 to hit a record low against the dollar.
The NSE Nifty 50 index was down 0.2 percent at 16,245, as of 0353 GMT, while the S&P BSE Sensex fell 0.21 percent to 54,404.88.
Both the indexes rose more than 1 percent in the previous session, with the Nifty hitting its highest since June 10.
Russia seeking oil payments from India in dirhams
Russia is seeking payment in UAE dirhams for oil exports to some Indian customers, three sources told Reuters and a document showed, as Moscow moves away from the US dollar to insulate itself from the effects of Western sanctions.
Russia has been hit by a slew of sanctions from the US and its allies over its invasion of Ukraine in late February, which it terms a “special military operation.”
An invoice seen by Reuters shows the bill for supplying oil to one refiner is calculated in dollars while the payment is requested in dirhams.
(With input from Reuters)
