India has allowed BRICS nations to settle trade in INR via Special Rupee Vostro Accounts, easing dollar dependence. The RBI circular enables 100% rupee-based trade, but it’s voluntary, not mandated. This supports India’s push for currency diversification.
India has allowed BRICS nations to settle trade in INR via Special Rupee Vostro Accounts, easing dollar dependence. The RBI circular enables 100% rupee-based trade, but it’s voluntary, not mandated. This supports India’s push for currency diversification.
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Published on 24, Aug 2025