Perspective: Global Trade Local Currency | 12 July, 2022

Sansad TV
The Reserve Bank of India has announced an arrangement for the country’s traders to settle imports and exports in rupees. This move is aimed at promoting growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in Indian Rupee. This will also facilitate trade with countries like Russia which are facing sanctions. Under this mechanism, exporters and importers can use a special vostro account linked to the correspondent bank of the partner country for receipts and payments denominated in rupees. India imports more than it exports so the country will also save foreign currency under the new arrangement.

1- Rajeev Mantri, Founder & MD, Navam Capital
2- Dr Ajay Sahai, DG & CEO, FIEO
3- Subhomoy Bhattacharjee, Consulting Editor, The Business Standard

Anchor: Vishal Dahiya
Producer: Pardeep Kumar
Assistant Producer: Surender Sharma

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