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Many Countries Want To Trade In Rupees: Piyush Goyal | How It Benefits India? | Rupee Goes Global [Video]

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Sri Lanka News

Many Countries Want To Trade In Rupees: Piyush Goyal | How It Benefits India? | Rupee Goes Global

Piyush Goyal, has revealed that several economies, both large and small, have shown interest in initiating trade transactions using the Indian Rupee. Countries such as Bangladesh, Sri Lanka, and certain Gulf nations have expressed immediate interest, while others in the Gulf are exploring the possibility. Goyal anticipates that more developed countries will also join this trend soon. Trading in local currencies can reduce transaction costs for both parties involved. The UAE was the first economy to accept this mechanism, which has gained momentum since then. Notably, India’s first-ever payment in Rupees for crude oil was made to the UAE.

#rupee #rupeeglobal #rupeegoesglobal #dedollarisation #etnow #etnownews #piyushgoyal

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Hon Tony Abbott in conversation with Brian Lee Crowley / MLI
Hon Tony Abbott in conversation with Brian Lee Crowley / MLI
President Ferdinand Marcos Jr declares Philippines will do ‘whatever it takes’ to protect sovereignty: Jonathan Berkshire Miller on CNA