Will Rupee stand against the Dollar?
.png)
On 11th of July 2022, The Reseve bank of India made a very dynamic anouncement where domestic trader could settle their imports and exports with Indian rupees and this move of taking INR global is much big deal because it is said that to help India to directly trade with Russia without dependence of the American banks. This could push us into new zone of world trade with Russia, Iran and Venezuela. But this move would destroy our relations with both US and Europe. This is no just the major move from the economics point of view but also geo-political point of view. What is the purpose of RBI policy behind this strategy? How this will help up to trade globally? What will be the impact on Rupee? Let's see When Russia invaded Ukrain, the American sanctions removed Russia from SWIFT network and this made impact on trade of India and many more countries. What is SWIFT network and how does it work? Swift network usually involves six different entities. The Indian bank has account in Amer...