India and Japan propose yen-rupee trade settlement plan
after close1 source ↓written by the desknot a recommendation
India and Japan are discussing a framework for businesses to settle trade in Indian rupees and Japanese yen, reducing reliance on the US dollar. This initiative, aimed at enhancing trade efficiency, could lower costs and currency risks for companies engaged in bilateral transactions. Japanese firms may also open accounts in Indian banks, facilitating smoother operations.
Not investment advice. For informational purposes only.