Deputy Minister of Foreign Affairs of the Russian Federation Andrei Rudenko said that Indian rupees are a reliable instrument for storage and investment, so their accumulation by Russian companies does not create any problems, but also expands financial opportunities. The diplomat talked about this in an interview TASS.
According to Rudenko, rupees are increasingly used in international payments and are suitable for investing in the Indian economy and regional trading partners. The diplomat emphasized that unlike the dollar and euro, the rupee exchange rate is quite stable and not subject to speculative manipulation.
The Deputy Head of the Russian Foreign Ministry stated that the relatively low convertibility of the rupee is not a problem as Indian authorities are taking active steps to internationalize their currency in trade with other countries. Therefore, the opportunities of the rupee in the international market will increase further.
Rudenko said the scope for Russian companies to deposit their income in rupees will expand.
Previously reportedHe said that Russia has sharply reduced the use of dollars and euros in foreign trade.
Formerly Central Bank of the Russian Federation raised key rate up to 16%.