Payment in Indian rupees

[coca-cola]

Recently I have seen a post on Facebook saying something that India is paying to iran and Russia it's payment in Indian rupees rather dollars ani.....how it effects Indian economy what are the positives in it assallu uses enti....any idea$!!!!

[Saamii]

3 minutes ago, coca-cola said:

Recently I have seen a post on Facebook saying something that India is paying to iran and Russia it's payment in Indian rupees rather dollars ani.....how it effects Indian economy what are the positives in it assallu uses enti....any idea$!!!!

Only iran not russia man. Russias deal is 5 billion. Iran is only 20 million ( this already started in november anduke oil prices down by 5 rupees). Year ki 20 million oil ki ok cheppindi america. Thats it antha kantey ekkuva em jaragadu.

[coca-cola]

1 hour ago, Saamii said:

Only iran not russia man. Russias deal is 5 billion. Iran is only 20 million ( this already started in november anduke oil prices down by 5 rupees). Year ki 20 million oil ki ok cheppindi america. Thats it antha kantey ekkuva em jaragadu.

Emo man recently ekkado cbusaa regarding some defense equipment related payment to Russia India is paying in rupees ani...but assallu all rupees pay chyatam valla labama nashtama on the world wide transactions ani asking.

[Saamii]

1 hour ago, coca-cola said:

Emo man recently ekkado cbusaa regarding some defense equipment related payment to Russia India is paying in rupees ani...but assallu all rupees pay chyatam valla labama nashtama on the world wide transactions ani asking.

Economy ki good because manam dollars kosam evadni adagam this does not create demand for dollar plus manam dollar konukonakkarledu.

[Android_Halwa]

Its more like barter system. India and Iran has bilateral trade and after the exchange of goods, calculating exports and imports what ever is left, India will pay Iran in rupees which Iran will use to pay for Indian imports.

Indian rupee is not yet convertible considering the size of the economy and worth and so is not universallya ccepted form of payment with an exception of Iran .

Its good for India to trade in rupees which will help us save the forex reserves. 

[coca-cola]

https://sputniknews.com/business/201811221070033679-india-russia-national-currency-s400-air-defence/.   the attached where I have seen something to Russia.

[Android_Halwa]

19 minutes ago, coca-cola said:

https://sputniknews.com/business/201811221070033679-india-russia-national-currency-s400-air-defence/.   the attached where I have seen something to Russia.

The source seems to be pro Russian news. 

And with sanctions in place against Russia, the two countries may be looking for alternate payment system in the short term and might have explored this option but might have not materialized. 

Indian rupee is not yet fully convertible to pay for such expenses. By 2030, we can expect the trade with third world countries in rupee but for now, we have to wait and watch. 

[chamcha420]

11 hours ago, coca-cola said:

Recently I have seen a post on Facebook saying something that India is paying to iran and Russia it's payment in Indian rupees rather dollars ani.....how it effects Indian economy what are the positives in it assallu uses enti....any idea$!!!!

Using indian rupee..Russia and Iran can buy indian produce...double gain for india

[Smallpappu]

31 minutes ago, chamcha420 said:

Using indian rupee..Russia and Iran can buy indian produce...double gain for india

+1

[coca-cola]

Okay