Despite RBI's efforts to boost rupee usage in international trade, including Special Rupee Vostro Accounts, its adoption for invoicing and settlement saw only modest growth over the past two fiscal years. This highlights the significant ground India must cover to internationalize its currency in a dollar-dominated global trading order.
RBI efforts boost rupee usage, yet global adoption remains limited
Despite RBI’s efforts to boost rupee usage in international trade, including Special Rupee Vostro Accounts, its adoption for invoicing and settlement saw o…
