Rupee-ruble payment pact talks reportedly suspended ...News

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Rupee-ruble payment pact talks reportedly suspended
source : Russia Today ( News ) () 48
Moscow is wary of a glut of Indian currency in its treasury, while a growing trade imbalance and double conversion worries New Delhi Negotiations between India and Russia on a rupee-ruble payment mechanism have stalled after a year of talks, anonymous officials from the Indian finance ministry have told Reuters. Russia reportedly does not want a surplus of rupees, which stands to reach the equivalent of over $40 billion this year, in its coffers, because of the growing trade imbalance between the two countries. However, an unnamed Russian official cited by Indian news agency ANI dismissed the claims, dubbing them

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