RBI permits International Trade Settlement in Indian Rupees
The Reserve Bank of India recently announced a framework on ‘International Trade Settlement in Indian Rupees’ to enable the settlement of import and export bills of Indian traders in INR. The said arrangement will use the mechanism of INR denominated vostro accounts for undertaking a trade settlement. The said framework has been issued in order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of the global trading community in INR.
To read further details, please refer to the below document.
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