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India to Russia Rupee Shipments to Begin Next Week – Mint

The system is ready to be tested after exporters had an importers have opened new bank accounts to enable rupee trade.


India's HDFC Bank completed the largest ever bond issuance by any bank on Thursday amid strong demand from long-term investors.
Analysts estimate India's borrowing is set to hit record levels next financial year. Photo: Reuters

 

Indian exporters will begin settling shipments to Russia in rupees next week for the first time in a new agreed payment system, Live Mint reported.

The system was agreed a few months back by the Reserve Bank of India, said the report, but is now ready to be tested after exporters and importers have opened new bank accounts to enable rupee trade.

Read the full report: Live Mint

 

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Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.

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