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A comment on India's Central Bank Announces International Trade Settlement in Indian Rupees.

Re:India's Central Bank Announces International Trade Settle... by cardiffspaceman on Monday July 11, 2022 @01:54PM (#32059403)
I would guess you can't just declare International Trade Settlement in $MY_CURRENCY, you have to have resources and processes in place, hopefully before the declaration date. A curious person would ask, what are these requirements?
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Re:India's Central Bank Announces International Trade Settle... by flashfaffe2 on Monday July 11, 2022 @02:58PM (#32060235)
Basically the same criteria United has compared to the others countries:

- a large assets backing the money ( the us economy) -A large debt market that can be traded easily ( t-bills ) -A safe economic environment -A protection system for any foreign investors.

No country expect the us offers those conditions. Europe debt is too fragmented, China controls his currency, and Japan is not big enough. .

Russia made the move because the rouble was back by their natural resources.

In India case, I m very surprised by this move and some technicals requirements would be needed.

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