Rupee settlement may bring annual savings of $36 billion in hard currency - Economic Times
7/12/2022 12:00:00 AM2 years 9 months ago
by Saikat Das and Atmadip Ray
by Saikat Das and Atmadip Ray
The mechanism, which can be kicked off without delay with Russia, may be favourable for Indian government bonds as well. The surplus balance held in a special vostro account to be opened under the rupee payment mechanism can be used for investing in the local…
The launch of international trade in Indian rupees could lead to annual savings of $30-36 billion in hard currency and widen the scope for such trades with countries in the region, easing pressure on… [+2909 chars]
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