RBI announces International Trade Settlement in Indian Rupees

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RBI announces International Trade Settlement in Indian Rupees

 

Finally, RBI announces International Trade Settlement in Indian Rupees
This means any country purchasing any good will have to go to World Bank exchange their currency into INR and then they will have to pay us in Rupees only.
This will create a demand for the Rupee in International Markets. This will add up to our Foreign Reserve and INR value will rise.
The copy of the announcement release is as under:
RBI Circular

1 Comment

  1. July 14, 2022
    Gopal V Iyer

    Does that mean Foreign outward remittences can also be made in INR ?

    Reply

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