RBI allows global trade settlements in Rupees

Published on July 12, 2022
Current Context: Reserve Bank of India announced an arrangement for domestic traders to settle imports and exports in rupees.
RBI allows global trade settlements in Rupees
  • According to RBI, this will promote global trade growth with an emphasis on exports from India and support the increasing interest of the global trading community in the Indian Rupee.
  • This move will accelerate transactions between the two countries.
  • Under existing provisions of the foreign exchange management act, final settlements must be in free foreign exchange except for Nepal and Bhutan.
  • The move is to help to curb demand for forex and support the Indian economy.
  • Static knowledge:
    • RBI governor - Shaktikanta Das
    • RBI headquarters - Mumbai
    • RBI was formed - on 1 April 1935

Can I help you?

ramandeep singh

Hey I am Ramandeep Singh. I am determined to help students preparing for RBI, SEBI, NABARD and IBPS exams. Do you want me to help you ?

Join my class here
    Follow me:
Close Menu
Close Menu