India and Russia settle some trade in rupees: Uco Bank
Mint Mumbai|May 16, 2023
India and Russia have been settling some of their non-oil trade in rupees since the beginning of this year, said a top official at state-run UCO Bank, which is involved in the transactions.
India and Russia settle some trade in rupees: Uco Bank

Last year, the Reserve Bank of India announced a mechanism to settle foreign trade in rupees, aimed at internationalising its use.

Russia is also keen to do more trade in "national currencies and currencies of friendly countries," its Deputy Prime Minister Denis Manturov said in April, to reduce its reliance on US dollars after western sanctions over its war in Ukraine.

この記事は Mint Mumbai の May 16, 2023 版に掲載されています。

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この記事は Mint Mumbai の May 16, 2023 版に掲載されています。

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