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RBI Announced Mechanism To Settle International Trade In Rupees | Latest News | Mirror Now
Posted
July 11, 2022
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3:04Now PlayingNews, coming in that now RBI has put down a mechanism to settle down International Trade. To promote the growth of global trade, RBI sets up a mechanism to settle trade payments in Indian Rupee. The central bank's action, which it claimed was intended to boost rising interest in the rupee globally and to encourage increased global trade, comes as pressure on the Indian currency has increased in the wake of Russia's invasion of Ukraine. Additionally, the decision to make trade settlement easier in rupees may also enable India to circumvent some restrictions that forbid using a major currency, like the US dollar, in commerce with specific nations. Tune in for more!
#RBI #Internationaltrade #growthindia
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