India wanted to ditch the US dollar and buy oil in rupees. No seller wanted to get involved.
Written by Black Hot Fire Network on December 25, 2023
A trader counts new 2,000-rupee notes at a wholesale vegetable market in Bangalore, IndiaAP Photo/Aijaz Rahi
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India's efforts to achieve increased international acceptance for its currency are floundering.
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No oil trades were settled in rupees during the financial year 2022-2023, the Press Trust of India reported.
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Countries from China to Russia and India have been seeking to rely less on the dollar in global transactions.
India's campaign to achieve wider international . . .
