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RBI unveils new system to settle international trade payments in Indian rupee
short by Sakshita Khosla / on Monday, 11 July, 2022
The Reserve Bank of India (RBI) on Monday unveiled a system for international trade settlements in the Indian rupee. The new system will be put in place to "promote the growth of global trade" and "support the increasing interest of the global trading community in INR", RBI said. The system allows for invoicing, payment and settlement of exports/imports in INR.
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