Certain African countries that are facing foreign exchange problems and issues with US Dollar and Euro mobilisation are also showing interest in the rupee (INR) trade mechanism
Last month, state-owned UCO Bank received the RBI's approval to open a special Vostro account with Gazprombank of Russia
As part of its measures to internationalise the rupee and ease the pressure on the local currency from a steeply rising dollar, following the Russian invasion of Ukraine, the RBI had on July 11 issued guidelines on settling...
