Many countries wish to conduct bilateral trade in Indian Rupee, banks working towards speedy opening of Vostro accounts: IBA Chief
One of the major advantage of having foreign trade in Indian rupees is that it will reduce currency conversion cost, and thus, the price of imported goods is likely to reduce in India.
:Small traders will also be able to export and import with other countries with bilateral trade happening in Rupee said the IBA chief said. (Image: Pixabay)