India'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 proposed measures to boost the rupee's global use, including allowing local banks to lend in rupees to businesses in n...

Currently, India is the fastest growing major developing economy in the world. Very soon it is expected to be the third largest economy. Gl...

India's first payment in rupees for oil bought from the UAE marked a step toward making the local currency more global. Officials noted thi...

Some Russian oil suppliers are demanding payment in yuan, according to a senior Indian official directly involved in the negotiations and a...

The internationalisation of the rupee gathered steam following the Reserve Bank of India's (RBI) announcement of a mechanism to settle paym...

For sellers of Russia’s flagship Urals crude in the spot market, avoiding dollar clearance meant bypassing the Western banking system and s...

India's efforts to boost the international role of the rupee through cross-border payments and encouraging its use in trade settlements hav...

New foreign trade policy reiterates the government's focus on self-reliance or Atmanirbhar Bharat and it will play a critical role in facil...

The gap between India & Russia's exports and imports is rising and that’s making the local currency payment mechanism futile. No payment ha...

A 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...

The internationalization of the rupee could lead to multipolar financial structure originally envisaged by the BRICS. The Central Asian sta...

RBI has made a strong case for internationalization of the rupee and sought to differentiate it from capital account convertibility

According to the central bank, countries that can borrow in their own currency are less susceptible to international crisis.

Deutsche Bank’s head of global transaction banking says India is one of the highest revenue contributors among all the markets that the ban...

India’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 will support only an easily and freely convertible currency for inclusion in IMF's special drawing rights.