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RBI allows payment for International trade in Rupee | Dollar Vs. Rupee |
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On 11th of July 2022, the Reserve Bank of India a made very very bold announcement whereby domestic traders could settle their imports and exports with Indian Rupees!! This move of taking the INR global is a very big deal because it said to help India trade directly with Russia without depending on the American banks!! On one side, while this could push us into new horizons of world trade with Russia, Iran, Venezuela, and Sri Lanka, on the other, this move could actually destroy our relations both with the US and Europe! So this is not a significant move from the economical standpoint but from a geopolitical standpoint!!
So the question is?
What is RBI's strategy behind bringing this system?
How will this help us trade with Russia and Iran in spite of the western opposition?
How will this help the economy of India?
and most importantly what are the study materials to help you understand this system better?
So the question is?
What is RBI's strategy behind bringing this system?
How will this help us trade with Russia and Iran in spite of the western opposition?
How will this help the economy of India?
and most importantly what are the study materials to help you understand this system better?
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