Russian Bank Launches Rupee Accounts For Individuals
Russian bank Sberbank has launched Indian Rupee accounts for individuals to reduce Moscow’s dependency on the U.S. dollar and euro. Russia’s dominant lender on Wednesday said individuals could now open accounts in Indian rupees, expanding the range of foreign currencies available as Moscow strives to reduce dependency on the U.S. dollar and euro. “As Sberbank […]
Why The Euro Has Fallen To $1, What It Means For The Rupee
Why has the euro fallen to $1 and what does it mean for the rupee? The euro’s decline in value relative to the dollar indicates that investors are shifting funds away from the Eurozone and toward the US.
India Exploring Rupee Payment Mechanism For Trade With Russia To Avoid Sanctions
India is exploring a rupee payment mechanism with the objective of trying to guarantee that Russian banks and firms open accounts with state-run Indian banks in order to settle trade settlement. This entire scheme is for the purposes of establishing trade with Russia and to avoid sanctions.