Many countries show interest in cross-border trade in Indian rupee: FM Sitharaman
- In July, RBI introduced a detailed circular on cross-border trade transactions. It decided to put in place an additional arrangement for invoicing, payment, and settlement of exports/imports in INR.
Many countries have shown interest in bilateral trade in the rupee after RBI's recent mechanism announcement, as per Finance Minister Nirmala Sitharaman on Tuesday. The FM believes along with this and other government measures are toward full capital account convertibility. The minister was talking at Hero Mindmine Summit.
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