#India#, Russia discussing #rupee-#rouble #trade; reducing non-tariff barriers: Commerce Secretary https://t.co/tCVlzvAkPm
#India, #Russia central banks renew talks for mechanism to expand local currency trade - source https://t.co/0AACE1lH0N
BREAKING NEWS THE INDIAN AND RUSSIAN CENTRAL BANKS HAVE RENEWED DISCUSSIONS TO SET A MECHANISM TO EXPAND LOCAL CURRENCY TRADE āMechanism.ā
India and Russia are in discussions to establish a dynamic rupee-rouble exchange rate to bypass US dollar trade barriers. This move aims to enhance bilateral trade between the two countries, especially in the context of US sanctions on Moscow. Senior central bank officials from both nations are expected to meet in Moscow to discuss a payment confirmation mechanism. The central banks are also exploring ways to expand local currency trade, which includes talks about reducing non-tariff barriers and addressing vostro balance issues, according to the Commerce Secretary.
