India settles $15 billion in imports using rupee
pre-market1 source ↓written by the desknot a recommendation
- approx
- ₹1.38 lakh crore
- from March
- $14.6 billion
- of total merchandise
- 7.1%
- previously
- 2.4%
India's rupee-settled imports reached ₹1.38 lakh crore (approx. $14.6 billion) from March to May, driven by increased purchases of Russian crude oil. This accounted for 7.1% of total merchandise imports, up from 2.4% previously. The shift indicates a growing trend in using the rupee for international trade amidst currency fluctuations. 📈
Not investment advice. For informational purposes only.