RBI allows payments for international trade in rupee; move to help ease forex pressure on India

The Reserve Bank of India (RBI) on Monday allowed invoicing and payments for international trade in rupees, potentially facilitating greater bilateral business with Russia that is facing a wide range of Western sanctions and is virtually cut off from standard cross-border payment platforms. This is aimed at promoting “the growth of global trade with emphasis on exports from India and to support the increasing interest of the global trading community in INR,” the RBI said.

via Economictimes