Thread by @Sanju_Verma_

#Rupee has fallen far lower Vs #Dollar,comparatively👇

Euro,2 days ago,went below $1 for 1st time in 20yrs,reflecting big weakness in #Euro

Rupee,displaying strength,has risen big time against Euro,Pound &Yen💪

So #Madarsa dentists from Congress should stop lecturing on Rupee

@narendramodi govt in a landmark measure has allowed international trade settlement in #Rupees

Explained👇
When countries import&export goods&services,they have to make payments in foreign currency

Since US Dollar is world’s reserve currency,most trades are entered into in USD

Here,both parties involved have to incur conversion expenses&bear risk of foreign exchange rate fluctuations

This is where trade settlement in Rupee comes in-instead of paying &receiving US Dollars,invoice will be made in Indian Rupees if counterparty has #Rupee Vostro account

Besides benefits to India,decision to allow international trade in #Rupee will ease matters for #SriLanka which is facing a massive #Dollar crunch

It will also eade our trade ties with Russia which can't make payment in US Dollars,due to sanctions by West

#RupeeVsDollar #WinWin

Rupee Vostro account is foreign bank’s account with an Indian bank in #Rupees,in India

For eg,#CitiBank holding account with SBI in Delhi branch denominated in Rupees,is called Rupee Vostro account

Foreign parties can send/receive money from exporters/importers via #RupeeVostro

On the other hand,a #Nostro account refers to an Indian bank’s account with a foreign bank in foreign currency in the foreign country

It is like SBI holding an account with #CitiBank in London,denominated in British Pounds,or say SBI holding an account with HSBC in Japan,in Yen