Textile & Apparel
Internationalisation of the Indian Rupee
May 24, 2024
The Reserve Bank of India (RBI) has been trying to cut down the use of the US dollar to keep the rupee stable and has taken an initiative that will allow invoicing of international trade in Indian rupees instead of dollars and other major currencies. While the present status is far from rupee becoming a reserve currency, it is a small first step.