RBI Allows International Trade Settlements In Rupees: What Does It Mean?

The Reserve Bank of India has introduced a settlement mechanism for international trade, using which importers and exporters can invoice and make payments in the Indian currency. Earlier, the traders had to transact using fully convertible currencies. This new system can strengthen India's forex reserves and simplify the country's trade with Russia, provided it finds takers in partner countries. How will the settlement mechanism work? Why has the RBI introduced it now? How can it break rupee's fall? Watch the video to find out.

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