RBI allows payments for cross-border trade in rupee, move to benefit trade with Russia | Economic Times

RBI allows payments for cross-border trade in rupee, move to benefit trade with Russia https://ift.tt/fnFhmxK be sure, India’s widening trade gap has also caused the rupee to lately slide to lifetime lows against the US dollar, exacerbating the threat of imported inflation in a country that relies on overseas shipments for meeting nearly four-fifths of its annual motor-fuel demand. A greater global trade share for the rupee will help the central bank preserve its foreign exchange stockpile, dealers said.