RBI announces measures for international trade settlement in rupees - Shahpur Turk CSC - Common Service Centre in Sonipat RBI announces measures for international trade settlement in rupees

14 July 2022

RBI announces measures for international trade settlement in rupees

The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of the increasing interest of the global trading community in the domestic currency. Before putting in place this mechanism, banks will require prior approval from the Foreign Exchange Department of the Reserve Bank of India (RBI), the central bank said in a circular.

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