INDIA TO USE RUPEES INSTEAD OF US DOLLARS FOR FUTURE INTERNATIONAL TRADE
India is proposing to replace the US Dollar with the Indian Rupee in all foreign trade. The Reserve Bank of India’s choice to allow the settlement of international trade in the Indian Rupee in July of the previous year served as the impetus for this action.
All nations with a shortage of US dollars are being offered to deal in rupees by India. This action aims to reduce demand for the US currency while boosting the value of the Indian Rupee.
