India advances rupee internationalisation via local currency pacts
after close1 source ↓written by the desknot a recommendation
- and processed
- 12 million users
- worth
- 175 million transactions
- worth
- ₹400 billion
India is enhancing the global use of the rupee through bilateral local currency arrangements, according to RBI Governor Sanjay Malhotra. The RBI has signed MoUs with several countries to facilitate cross-border trade using local currencies. Additionally, the digital rupee pilot has reached 12 million users and processed over 175 million transactions worth nearly ₹400 billion.
This initiative may strengthen the rupee's position in global markets and enhance trade efficiency.
Not investment advice. For informational purposes only.