India’s foreign trade in rupees gains momentum – media ...News

Russia Today - Economy
India’s foreign trade in rupees gains momentum – media
source : Russia Today ( News ) () 67
A growing number of countries have reportedly opened Indian currency accounts to boost trade Eight more countries have opened Special Rupee Vostro Accounts (SRVA) aimed at facilitating cross-border trade settlements in the Indian currency, news website Firstpost reported on Tuesday. A vostro account is commonly opened at a domestic bank on behalf of a foreign bank in the former’s domestic currency, in this case, the rupee. So far, 49 vostro accounts have been opened with countries including Russia, Sri Lanka, Mauritius, Malaysia, Singapore, Myanmar, Israel and Germany. Detailed guidelines on international trade tr

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