Rajkot – India’s international trade will soon be in rupees. For this, banks of other countries are opening Vostro accounts in Indian banks. 60 foreign banks from 18 countries have sought permission from the Reserve Bank of India for this. Union Commerce Minister Piyush Goyal said these countries include the United Kingdom, Singapore and New […]
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New Delhi: After the conflict in Ukraine, the United States imposed sanctions on Russia’s dollar transactions. India and Russia started trading in Rupee-Rouble to avoid the effect on mutual trade. Union Finance Minister Nirmala Sitharaman has said that many countries are eager to do business with Indian Rupee. Sitharaman expressed satisfaction by saying that the […]
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New Delhi: Four days ago, the Indian Rupee reached a record low level against the USD. But developments over the last few days indicate that the Rupee is recovering slowly. Still, warnings are being issued that this slide in the Indian Rupee is a cause for concern. The Minister for Economic Affairs reassured the people […]
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New Delhi: Indian Rupee continues to depreciate, causing a significant concern for the government. The Rupee sliding to 79.11 against 1 US Dollar has triggered worried reactions from various sections of society. On Friday, the Rupee gained 12 paise to close at 78.94. Union Finance Minister Nirmala Sitharaman said that she would be in discussion with […]
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New Delhi: There was a record decline in the value of the Indian Rupee against the US dollar and the Rupee declined to 69.93 per USD. The decline of Re.1.10 on Monday was the highest in a single day, over the last 5 years. As per analysts, this slide in the Indian Rupee and many […]
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Washington – The world is worried after the bankruptcy of Silicon Valley Bank-SVB of the United States and the Credit Suisse of Switzerland. Warnings are being given that some more banks in the United States and Europe will go bankrupt in the future. Due to this, some economists have warned that an even worse economic […]
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New Delhi – The government has instructed Indian traders and banks to avoid using the Chinese Yuan while doing business with other countries. Claims are being made that the government gave this instruction and the Reserve Bank of India as relations between India and China are strained. The news about this has been published by […]
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New Delhi: Sri Lanka has agreed to set aside US dollars and trade in Rupee with India. Apart from Sri Lanka, other countries like Russia, Mauritius, Myanmar, Malaysia, Singapore, Israel, and Germany are also willing to trade in Rupee. More than 50 countries have opened Special Rupee Vostro Account-SRBA for transactions. This clearly indicates that […]
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New Delhi: Reserve Bank Governor Shaktikanta Das informed that India is discussing with South Asian countries the use of the rupee for cross-border trade. The governors of the Reserve Bank have said that Bhutan and Nepal are trying to use India’s ‘UPI’ facility to a greater extent. While the pilot project of the Digital Rupee […]
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New Delhi: Concern is being expressed that the United States, European countries, Japan and China will all be hit by the economic recession. It will also have some impact on India’s growth rate. However, the Indian economy is unlikely to face the risk of recession. Rajiv Kumar, former Vice Chairman of NITI Aayog, has expressed […]
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