India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar

The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this measure to facilitate payments for countries experiencing a U.S. dollar crush.

コンテンツ

India to Offer Rupee-Based Settlement Options for International Commerce

India’s government is introducing new settlement methods apart from the U.S. dollar for international commerce. The new foreign trade policy ガイダンス, which was implemented on April 1, includes a new option of settling payments in Indian rupees, giving countries facing a U.S. dollar crush a way to continue trading with the country.

The new directive would be directed to help countries like Sri Lanka, Bangladesh, and Egypt, which are facing difficulties in obtaining U.S. dollars to keep bartering goods with India. Commerce secretary Sunil Barthwal 述べました that this measure would help disaster-proof these countries against a hypothetical dollar drought.

The move is part of the efforts of New Delhi to profile its currency at a global level. この意味で, the Department of Commerce of India 説明した this new foreign trade policy plan was designed to “work towards making Indian Rupee a global currency, adding further impetus to India’s emergence as the global trading hub.”

Countries Moving Away From the U.S. Dollar Hegemony

India is the last one in a line of countries that have put in motion certain initiatives to shift away from using U.S. ドル, at least for international settlements. 中国, part of the BRICS bloc, which is also integrated with India, ブラジル, ロシア, and South Africa, has also been promoting the use of the Chinese yuan as part of an international de-dollarization policy.

In the meeting that Chinese President Xi Jinping and Russian President Vladimir Putin held as part of Xi’s visit to Russia on March 21, プーチン サポートされています the use of the Chinese yuan to settle payments with emerging economies in Asia, アフリカ, and Latam. また, more recently, 中国 inked a deal with the Brazilian government in order to ditch the dollar for their bilateral settlements, substituting it for national currencies.

Other blocs are also contemplating different ways to diminish their reliance on the U.S. ドル. ASEAN, the Association of Southeast Asian Nations, a bloc that integrates Brunei, Cambodia, Indonesia, Laos, マレーシア, Myanmar, the Philippines, シンガポール, タイ, and Vietnam, is pushing its members to use national currencies for payments, as they fear U.S. secondary sanctions for not enforcing a trading ban on Russia.

このストーリーのタグ
and South Africa, Asean, Bangladesh, ブラジル, レンガ, Brunei, Cambodia, Egypt, インド, Indonesia, laos, マレーシア, myanmar, ルピー, ロシア, シンガポール, sri lanka, Sunil Barthwal, タイ, The Philippines, 私たち. ドル, ウラジミール・プーチン, 習近平

What do you think about India’s rupee-centric settlement options to reduce dollar dependency? Tell us in the comment section below.

セルジオ・ゴシェンコ

セルジオはベネズエラを拠点とする暗号通貨ジャーナリストです. 彼は自分自身をゲームに遅刻したと説明しています, 12月に価格が上昇したときに暗号圏に参入 2017. コンピュータ工学のバックグラウンドを持つ, ベネズエラ在住, 社会レベルでの暗号通貨ブームの影響を受けている, 彼は、仮想通貨の成功と、それが銀行口座を持たず、十分なサービスを受けていない人々をどのように助けるかについて、異なる視点を提供します.

画像クレジット: シャッターストック, Pixabay, ウィキ・コモンズ