Russia, India plan to drop use of US dollar, euro in bilateral trade: Russian diplomat

December 24, 2022
Posted by: AliensFaith
Category: OBJECTIVE PRESS

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If the two countries switch to rupee-rouble settlement without addressing trade imbalance, then Russian banks that accept rupee payments from Indian buyers and release the corresponding amount to Russian sellers in rouble will see a huge pile-up of the rupee even after buying back all the rouble Russian buyers pay for Indian products and services.

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

Russia, India plan to drop use of US dollar, euro in bilateral trade: Russian diplomat

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