Russia’s Dilemma: Large Amounts of Indian Rupees That It Can’t Use Russia has recently disclosed that it holds a significant amount of Indian rupees, but it is facing difficulty in using them. The problem has arisen because of the Reserve Bank of India’s stringent regulations, which prohibit foreign entities from using rupees for transactions within…
India’s Forex Reserves Fall $2.40 Billion to 3-Month Low of $560 Billion India’s foreign exchange reserves fell by $2.4 billion to a three-month low of $560.02 billion in the week ended April 9, as per the Reserve Bank of India’s (RBI) weekly statistical supplement released on Friday. India’s forex reserves had touched a lifetime high…
UAE India Trade discussing settling non-oil trade in Rupees The United Arab Emirates (UAE) and India are in talks to settle non-oil trade in Indian rupees. The discussions were held during a meeting between India’s Commerce and Industry Minister and the UAE’s Minister of Economy. The two countries also discussed increasing their bilateral trade and…
