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Shaktikanta Das highlighted key aspects of the three problem statements identified for the 2023 Tech Sprint - illicit finance risks, foreign exchange and technology solutions for currency settlement and technology solutions for multilateral cross-border CBDC platforms.
India and UAE using their own local currencies – rupee and dirham – to pay for imports and exports is a bold shift away from the dollar. Dirham’s strength and Indian economy’s size allows both currencies to proceed on equal terms. Such isolated shifts won’t worry the US, but not so if the club of countries using their local currencies to trade were to grow
RBI eyes global currency role for rupee
JAKARTA, Feb. 16 (Xinhua) -- Indonesia will promote the use of local currency settlement (LCS) in cross-border trade and investment, as an effort to reduce depe