Last year, the central banks of India and Indonesia signed a memorandum of understanding on using local currencies for trade.

Tensions have prevailed over aggressive Chinese assertions in the waters. Beijing's claims overlap with exclusive economic ...

Has India too taken steps to reduce reliance on the US dollar? Yes. In an attempt to reduce reliance on the US dollar and to internationalise the Indian rupee, the Reserve ... in Mumbai that “mutual ...

The mere apprehension of the trade salvoes that a MAGA-driven Trump may fire, targeting chiefly economic behemoths like China, the EU and India ... INR and local currencies. Additionally, Indian ...

New Delhi [India], January 20 (ANI): The Indian rupee is likely to see a strong recovery once current market uncertainties settle down said a report by ... Vietnam and Russia have signed a new ...

India and China have agreed to resume direct air services after nearly five years and work on resolving differences over ...

The Reserve Bank of India (RBI) on Thursday (January 16, 2025) announced liberalised norms to encourage use of Indian Rupee and local ... overseas for settlement of trade transactions, including ...

These measures are aimed at improving the viability of the Indian rupee in international transactions and promoting its use in global trade and are designed to strengthen India’s trade and ...

The Reserve Bank of India (RBI) on Thursday announced steps to encourage cost-border transactions using Indian Rupee and local ... currency overseas for settlement of trade transactions, including ...

To encourage greater use of Indian Rupee (INR) for trade transactions ... SRVAs with banks in India. "Overseas branches of Authorized Dealer banks will be able to open INR accounts for a person ...

The Reserve Bank of India ... repatriable INR accounts for foreign investment, including FDI, in non-debt instruments. RBI further said Indian exporters will be able to open accounts in any foreign ...

The Reserve Bank of India ... risk for Indian parties. In 2022, the RBI introduced the Special Rupee Vostro Account (SRVA), enabling Indian banks to settle international trade in Rupees.