Image source: topwar.ru
Representatives of Russia and India are studying the possibility of switching mutual settlements between Moscow and New Delhi to national currencies. At the same time, there is a place for the Chinese yuan in the ruble-rupee scheme.
This topic is discussed in an article published by the Indian business newspaper Mint, whose journalists refer to government sources.
They reported that it is supposed to make the exchange rate ratio of the national currencies of the two countries floating, and to link the ruble and the rupee to use the yuan, which should become a reference point for them.
Image source: topwar.ru
Indian experts believe that this measure will contribute to the preservation and growth of trade turnover between the two countries in the face of sanctions imposed by the West on Russia. The Indian media notes that then Moscow and New Delhi will be able to pay each other without using dollars and euros for this.
At the moment, Indian consumers receive oil, defense products and much more from us. New Delhi supplies tea, medicines, agricultural products and other goods to the Russian Federation. India hopes very much for oil supplies from Russia at a discounted price.
Russian-Indian mutual settlements in national currencies have previously been tested in practice. Moscow bought teas in India without using either dollars or euros to pay for the goods.
Now, due to restrictions, Russian partners cannot make payments for $500 million worth of Indian goods that have already been shipped.
