Imbalance in Russia-India trade & US sanctions have meant Russia is accumulating rupees it can’t use. At stake could be a significant part of India’s imports from Russia.
India must offer the rest of the world sizable amounts of safe, readily available, and convertible assets that could be used as collateral in financial markets.
Moreover, India’s tight capital controls, management of the rupee and, importantly, a smaller share of global exports run counter to aspirations of making it an international currency.
India is an outlier for engaging with Russian economy, which has brought back talk of reviving an old Cold War relic: the rupee-rouble trade. But the rupee is in trouble in Russia.
Ever since sanctions were imposed on Russia, India hasn’t been able to use US dollar to pay for oil. It is said to be looking at using dirhams & rupee, both of which have limitations.
India's forex reserves rose for a second week, increasing by $5.98 billion & stood at its highest since early July, according to RBI's statistical supplement. The rupee ended at 82.16 Friday.
In May 1974, RSS chief Madhukar Dattatraya Deoras spoke at a lecture series in Pune about caste-based discrimination and social equality within the Hindu fold.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
While the IAF remains committed to the Tejas programme and has placed orders for 180 Tejas Mk1A, the force is eagerly waiting for the Tejas Mk 2 version.
What Munir has achieved with Trump is a return to normal, ironing out the post-Abbottabad crease. The White House picture gives us insight into how Pakistan survives, occasionally thrives and thinks.
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