Countries Fighting for INDIAN RUPEE | 5 Countries Using India's Rupee to Replace US Dollar

India and Russia will start settling trade in rupees next week. The RBI has approved Sri Lanka, Nepal, and Bangladesh. Saudi Arabia and the UAE are in talks with India to utilise their currencies for commerce. India's third largest trading partner in 2020, behind the U.S. and China, with 43.3 billion in bilateral trade. Russia, a highly sanctioned country, has sought a large list of commodities from India. Increasing the usage of the rupee for overseas transactions will help prevent dollar outflows.
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