India 360: International Trade Can Now Be Settled In Rupee; Demand For De-Dollarization Has Increased

RBI has recently allowed international trade in rupees. For this, changes have been made in the foreign trade policy. Under this, Billing, Payment and Export-Import settlement will be done in rupees. India is trading in local currency with Bangladesh. There is also a consideration to transact with Saudi Arabia in rupees. The Government of India has proposed to transact in rupees in front of Saudi Arabia. Both countries are emphasizing on increasing bilateral cooperation. The demand for De-Dollarization has also increased in global trade. Russia-China wants to reduce the dominance of the dollar. Watch this special report on India 360.