• Write for Us
  • Advertise
  • About
  • Contact
Thursday, June 1, 2023
British Herald
Advertisement
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
Home Finance

Is the Rupee Set to Replace the Dollar as an International Currency?

Editorial Bureau by Editorial Bureau
March 31, 2023
0
Indian Rupee

Indian Rupee

74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

India has been attempting to internationalise the rupee for a long time. Currently, currencies such as the US dollar, Euro, Japanese yen, British pound, and to a lesser extent, the Chinese yuan, can claim to be global reserve currencies. However, the latest report suggests that India has made tremendous progress towards giving the rupee this status.

You might also like

Biden ‘optimistic’ of debt ceiling deal as Yellen extends deadline to 5 June

Bank of England’s Jonathan Haskel says policy should lean against sticky inflation

UK government sells £1.26bn of NatWest shares

According to the report, the Indian rupee is getting closer to becoming a recognised currency as more nations try to de-dollarize international trade.

The RBI, India’s central bank, has authorized the opening of 60 special rupee vostro accounts in 18 countries, including Russia and Sri Lanka, to facilitate the smooth operation of international trade in INR.

Bhagwat Karad, India’s Minister of State for Finance, stated that the Reserve Bank of India (RBI) had granted permission to domestic and foreign AD (Authorised Dealer) banks to open SRVAs of banks from 18 nations in 60 cases.

The purpose of these SRVAs is to settle payments in Indian rupees.

The minister stated that Russia has been actively promoting local currency transactions as part of the “de-dollarization” movement among the 18 nations. However, he noted that India has been advocating for trade in local currency primarily to boost exports.

Tags: AmericaarticleBritish HeraldindiaNewsrupeerussiaUKusaworldnews
Share30Tweet19
Editorial Bureau

Editorial Bureau

Recommended For You

Biden ‘optimistic’ of debt ceiling deal as Yellen extends deadline to 5 June

May 27, 2023
Biden ‘optimistic’ of debt ceiling deal

The US will be unable to pay its obligations by June 5 unless Congress lifts the debt ceiling , the treasury secretary, Janet Yellen, said on Friday as...

Read more

Bank of England’s Jonathan Haskel says policy should lean against sticky inflation

May 26, 2023
Jonathan Haskel chose not to comment on the market expectations for BoE interest rates.

Monetary Policy Committee (MPC) member Jonathan Haskel stated on Thursday that the Bank of England needs to push back against the risk that high inflation proves unexpectedly sticky,...

Read more

UK government sells £1.26bn of NatWest shares

May 22, 2023
Last month, the government extended its plan to sell off its stake in NatWest by another two years

The UK government has sold £1.26bn of NatWest shares bank to the bank, which it bailed out in a near £46bn deal in 2008.The sale will reduce the...

Read more

Bank of England set for 12th straight interest rate hike, but the outlook remains murky

May 10, 2023
The Bank of England faces a trickier tightrope, though, with the U.K. tipped to be the worst-performing major economy

The Bank of England is expected to raise interest rates for the 12th consecutive meeting on Thursday due to high inflation. However, it seems that the summit may...

Read more

The US dollar’s decline : World to face a threat of economic catastrophe

March 30, 2023
US Dollars

In March 2023, the United States experienced a severe economic downturn, with a series of major bank failures. Among these was the Silicon Valley Bank, a top-20 bank...

Read more
No Result
View All Result
Venice Architecture Biennale 2023

Discovering the Venice Architecture Biennale 2023

May 31, 2023
Winning the Europa League final will give Jose Mourinho his sixth European title.

Europa League final : Jose Mourinho targets sixth Europa League final

May 31, 2023
Putin Insists UK leading 'undeclared war against Russia'

Putin Insists UK Leading ‘undeclared war against Russia’

May 31, 2023

Tags

australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus cases coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england European Union facebook France germany Hong Kong india iran israel italy japan joe biden lockdown London News new zealand north korea Rishi Sunak russia south korea spain T20 World Cup taiwan thailand trending Trump turkey UK Ukraine usa worldnews
British Herald

Top News in World: Read Latest News on Sports, Business, Entertainment, Blogs and Opinions from leading columnists.

CATEGORIES

  • Africa
  • Articles
  • Asia
  • Brand Feature
  • Business
  • Climate & Environment
  • Companies
  • Crypto
  • Culture and Lifestyle
  • Daily Roundup
  • Economics
  • ECONOMY
  • Entertainment
  • Europe
  • Fashion
  • Finance
  • Financial Markets
  • Fintech
  • Health
  • IN UK 01
  • IN UK 02
  • Investing
  • Latin America
  • Market
  • Middle East
  • Oceania
  • Opinion
  • Pharma/BioTech
  • Politics
  • Reviews
  • Science & Technology
  • Sport
  • Sustainability
  • Tech
  • Technology
  • Travel
  • UK
  • Uncategorized
  • USA
  • Videos
  • World

BROWSE BY TAGS

australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus cases coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england European Union facebook France germany Hong Kong india iran israel italy japan joe biden lockdown London News new zealand north korea Rishi Sunak russia south korea spain T20 World Cup taiwan thailand trending Trump turkey UK Ukraine usa worldnews

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

No Result
View All Result
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?