35 countries have expressed willingness to trade with India in Indian rupees.
Due to the international economic crisis, many countries are looking for an alternative to their export and import trade.
Asian, Scandinavian and some African countries have expressed interest in trading with India in Indian rupees following the announcement that trade between India and Russia will be done in Indian rupees instead of US dollars.
Our close countries like Sri Lanka, Bangladesh, Nepal and Myanmar have taken a firm stance on this rupee trade.
Trade in INR to Russia is done through UCO Bank and Indus Indus Bank.
Punjab National Bank has taken efforts to trade in Indian rupees in Myanmar.
Many such countries have expressed their willingness to trade with India in Indian rupees due to the rising value of the US dollar against their currencies, in other words, the shortage of foreign reserves.
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