India Expands Rupee Trade Settlement To Reduce Dollar Dependence

India has accelerated efforts to settle global trade in rupees, with the Reserve Bank of India’s mechanism now covering over 30 countries and recording more than ₹14,000 crore worth of transactions in February 2026 alone.This initiative reduces dollar dependence, cuts conversion costs, and shields Indian businesses from currency volatility, though it still represents a small share of total
India has accelerated efforts to settle global trade in rupees, with the Reserve Bank of India’s mechanism now covering over 30 countries and recording more than ₹14,000 crore worth of transactions in February 2026 alone.This initiative reduces dollar dependence, cuts conversion costs, and shields Indian businesses from currency volatility, though it still represents a small share of total
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