India and Russia Introduce Semi‑Floating Rupee‑Ruble Rate to Boost Bilateral Trade
Introduction India Russia trade is entering a new phase with the introduction of a semi‑floating rupee‑ruble exchange rate, fixed monthly for bilateral transactions. This mechanism, coordinated by the Reserve Bank of India (RBI) and the Central Bank of Russia, aims to reduce foreign exchange costs, stabilize trade flows, and bypass Western sanctions that have disrupted … Read more