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Russia's top lenders Sberbank and VTB have said they are improving their ability to convert rupees into roubles, helping exporters to get funds effectively trapped in India due to Western sanctions.
Faltering deal bodes ill for India’s plan to create rupee-rouble trade mechanisms that can bypass dollar and euro payments.
India Potash's rouble-rupee payment deal stumbles in Russian bank
MUMBAI: Indian shares dropped early on Tuesday as domestic investors awaited a central bank interest rate decision, while global investors were nervous ahead of US inflation data and key rate decisions in Europe and Australia. The NSE Nifty 50 index was down 0.73 percent at 16,447.05, as of 0355 GMT, while the S&P BSE Sensex fell 0.74 percent to 55,258.58.
By Nidhi Verma and Aftab Ahmed NEW DELHI (Reuters) - Russia's Sberbank has yet to process the first payment from Indian Potash Ltd (IPL) under a deal ...