India settles $15 billion in imports using rupee amid oil purchases
after close1 source ↓written by the desknot a recommendation
- approximately
- ₹1.38 lakh crore
- in imports using
- $15 billion
- of total merchandise
- 7.1%
- previously
- 2.4%
India has settled ₹1.38 lakh crore (approximately $15 billion) in imports using the rupee 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 trend highlights a growing reliance on the rupee for international trade amidst currency fluctuations.
Not investment advice. For informational purposes only.