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INDIA CURRENCY INTERNATIONALIZATION
RBI efforts boost rupee usage, yet global adoption remains limitedDespite RBI's efforts to boost rupee usage in international trade, including Special Rupee Vostro Accounts, its adoption for invoicing and ...- RBI measures on currency temporary to curb volatility, says deputy governor SankarThe Reserve Bank of India's deputy governor stated that temporary curbs on banks' currency trading will be lifted soon. These measures were...
- Biggest currency clampdown in decade risks backfiring for IndiaIndia's Reserve Bank of India has intervened to support the rupee, forcing local banks to unwind bearish bets. This move, while strengtheni...
- India pushes to expand rupee settlement with key trade partnersIndia's central bank is actively working to facilitate rupee settlements with free-trade partners, aiming to boost the local currency. This...
- India's central bank proposes to boost international usage of rupeeIndia's central bank proposed measures to boost the rupee's global use, including allowing local banks to lend in rupees to businesses in n...
- Indian rupee is now aiming to be world’s alternate reserve currencyCurrently, India is the fastest growing major developing economy in the world. Very soon it is expected to be the third largest economy. Gl...
- First rupee payment for oil to UAE: India looks for more deals, no targets: OfficialsIndia's first payment in rupees for oil bought from the UAE marked a step toward making the local currency more global. Officials noted thi...
- India pushes back against Russia demands to pay for oil in yuanSome Russian oil suppliers are demanding payment in yuan, according to a senior Indian official directly involved in the negotiations and a...
- Rupee goes international: Journey of Indian currency since 1947The internationalisation of the rupee gathered steam following the Reserve Bank of India's (RBI) announcement of a mechanism to settle paym...
- View: It's time to get real about the rupee's global roleFor sellers of Russia’s flagship Urals crude in the spot market, avoiding dollar clearance meant bypassing the Western banking system and s...
- Modi’s push to take Indian rupee global gets off to a slow startIndia's efforts to boost the international role of the rupee through cross-border payments and encouraging its use in trade settlements hav...
- New trade policy to facilitate India's transition to developed economy: FICCINew foreign trade policy reiterates the government's focus on self-reliance or Atmanirbhar Bharat and it will play a critical role in facil...
- India's Rupee trade plans with Russia has likely run into troubleThe gap between India & Russia's exports and imports is rising and that’s making the local currency payment mechanism futile. No payment ha...
- India’s campaign for rupee trade finds fans from Russia to UAEA greater use of the rupee in tea trade is an encouraging sign, but it’s unlikely to boost the currency’s status in a major way. That’s bec...
- Trade in national currencies to boost India's trade with Central Asia & extended neighbourhoodThe internationalization of the rupee could lead to multipolar financial structure originally envisaged by the BRICS. The Central Asian sta...
- RBI seeks to globalize rupee to cut forex debt risksRBI has made a strong case for internationalization of the rupee and sought to differentiate it from capital account convertibility
- RBI seeks to globalize rupee to cut forex debt risksAccording to the central bank, countries that can borrow in their own currency are less susceptible to international crisis.
- India is a sweet spot for Deutsche Bank: Werner SteinmuellerDeutsche Bank’s head of global transaction banking says India is one of the highest revenue contributors among all the markets that the ban...
- Will surprise critics again by year end: Arvind Mayaram, Economic affairs secretaryIndia’s economy expanded at a four-year low of 4.4% in the April-June quarter, triggering a wave of downgrades, some as sharp as two percen...
- India unlikely to support China's renminbi as IMF reserve currencyIndia will support only an easily and freely convertible currency for inclusion in IMF's special drawing rights.
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