https://sputniknews.in/20230928/de-dollarization-russia-india-increase-payments-in-national-currencies-fivefold-in-2023-4485748.html
De-dollarization: Russia, India Increase Payments in National Currencies Fivefold in 2023
De-dollarization: Russia, India Increase Payments in National Currencies Fivefold in 2023
Sputnik India
Settlements in national currencies between Russia and India have grown fivefold in monetary terms in 2023 year-on-year, while the average transaction amount in the first half of the year has increased by 83%.
2023-09-28T17:32+0530
2023-09-28T17:32+0530
2023-09-28T17:32+0530
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Settlements in national currencies between Russia and India have grown fivefold in monetary terms in 2023 year-on-year, while the average transaction amount in the first half of the year has increased by 83%, deputy chairman of Sberbank's executive board, Anatoly Popov, said.In the first half of 2023, the number of foreign trade operations with India carried out in national currencies through Russia's biggest lender has risen almost four times while the average transaction check grew by 83%, he added.Pharmaceuticals, food, machinery and equipment, and chemical goods are among the most in-demand goods for import.
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russia, india increase payments in national currencies fivefold in 2023, russia and india trade, trade in national currencies, de-dollarization, what does dedollarization mean, is dedollarization a real thing, is dedollarization a threat,
De-dollarization: Russia, India Increase Payments in National Currencies Fivefold in 2023
Leaders of the Global South have been actively promoting trade in national currencies. Moreover, many leaders around the globe are supporting de-dollarization.
Settlements in national currencies between Russia and India have grown fivefold in monetary terms in 2023 year-on-year, while the average transaction amount in the first half of the year has increased by 83%, deputy chairman of Sberbank's executive board, Anatoly Popov, said.
"Sberbank is the key bank partner for the corporate clients who are working in national currencies with India. This year the volumes of settlements with India have grown five times in monetary terms compared to the same period last year", Popov told reporters on the sidelines of the SberVED 2023: India conference.
In the first half of 2023, the number of foreign trade operations with India carried out in national currencies through Russia's biggest lender has risen almost four times while the average transaction check grew by 83%, he added.
Pharmaceuticals, food, machinery and equipment, and chemical goods are among the most in-demand goods for import.
