Rupee Trade

India, Russia trade hit record high in 2022, settled in INR, ruble

President of Russian Chamber of Commerce and Industry Serget Katyrin said India and Russia have been working in various options & are close to resolve the issue of payments between eachother

WATCH: Rupee to rescue countries facing foreign currency crunch; over 18 have opened vostro accounts

SRVA or Special Rupee vostro account is a new trade mechanism announced by India's central bank -- Reserve Bank of India (RBI) in July last year to settle cross-border trade in Indian rupee

Dollar Trumped: Russia wants all cross-border trade with India settled in rupee, ruble

Head of the department for external economic and international relations of Moscow, Sergey Cheryomin said banks of both Russia and India should be “more active” in establishing a relationship with each other

India to use G20 platform to improve rupee trade with countries facing currency issues

India's Commerce Secretary Sunil Barthwal said New Delhi is interested on settling international trade with more countries in Indian rupees

Rupee races to replace dollar: Egypt latest entrant to club of countries wanting to trade in INR

Egypt needs another six ship loads of rice, which could weigh over 1.5 lakh tonnes, it has sought to make the payment in INR

Rupee races to replace dollar as UAE to join 18 others to settle trade in INR

India had prepared a concept paper on Rupee-Dirham trade and shared it with the UAE last year

Rupee marches on: Sri Lanka's Seylan Bank opens INR-denominated Nostro account in Indian Bank

Settling transaction in Indian rupee will help traders of both India and Sri Lanka who are facing shortages in Foreign Exchange

Rupee closer to replacing dollar as 18 nations agree to trade in INR

The process of SRVAs started last year in the month of July when the RBI issued detailed guidelines on cross-border trade transactions in the Indian rupees (INR)

Eight countries open 50 special rupee vostro accounts in 6 months to trade in INR

Special vostro account holders are allowed to invest surplus balance in Indian government securities. The facility has been provided by the RBI to help popularise the new arrangement

Rupee-Dirham trade to soon be a reality as India, UAE work to finalise arrangement

UAE ambassador Abdulnasser Jamal Alshaali said currently, both the countries are engaged in technical discussion to finalise local currency agreement for trade