India's Central Bank Announces International Trade Settlement in Indian Rupees

Re:India's Central Bank Announces International Trade Settle... by suyash on Monday July 11, 2022 @01:07PM (#32058781)

Hopefully this will also strengthen the INR compared to the USD. Good move!

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Re:India's Central Bank Announces International Trade Settle... by samspenc on Monday July 11, 2022 @04:14PM (#32061186)

Interestingly, this announcement hasn't moved the USD-INR exchange rate that much, looks fairly stable over the past 24 hours, let's see what happens over the long term.

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Re:India's Central Bank Announces International Trade Settle... by nxm on Monday July 11, 2022 @02:20PM (#32059735)

Which will make Indian labor and products more expensive and less attractive.

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Re:India's Central Bank Announces International Trade Settle... by programmer_dude on Monday July 11, 2022 @02:57PM (#32060233)

On the flip side it will also make imports cheaper. Given the fact that India imports more than it exports (monetary value wise), this is a net positive. At least for now.

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Re:India's Central Bank Announces International Trade Settle... by kylehotchkiss on Monday July 11, 2022 @02:31PM (#32059877)

If I understand this correctly, the exchange rate changes are more related to rate hikes in US and the amount of dollar based debt.https://en.wikipedia.org/wiki/External_debt_of_India#Currenc...

Plus US is one of India's larger trade partners (https://en.wikipedia.org/wiki/List_of_the_largest_trading_pa...) where payments will be USD.

I can't see this having a huge shift on the exchange rate, but hope to see it stabilize soon.

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