World is looking for the ways beyond US dollars after Ukraine crisis

India also looking for the ways to counter these crisis

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In this development RBI is trying make Indian Rupee international currency

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This development is also necessary to achieve 5 trillion dollar mark

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On 11 July RBI announced the setting up of a mechanism to carry out international trade in Indian rupees.

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About 30-35 countries have shown interest in rupee trade mechanism

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Asian , African and even Scandinavian countries have shown the interest

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There are many benefits of rupee trades such

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such as it reduces currency volatility and cost of doing business

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