Posted on 04/02/2023 6:10:07 AM PDT by Its All Over Except ...
Bangladesh could soon start trading with India using rupee instead of US dollar, trial for which has been done by Bangladesh Bank recently, reports UNB.
The ministry of commerce has placed a written recommendation at the last cabinet meeting regarding the possibility and opportunity of using rupee instead of dollar.
Currently Bangladesh exports goods to India worth around USD 2 billion.
“The use of rupee will start with Bangladesh's $2 billion trade with India. Bangladesh Bank has almost finished all kinds of trials in this regard. Trading in rupee will be introduced in both countries only after bilateral decision on some issues,” an executive director of Bangladesh Bank told the news agency.
Wishing anonymity, he said that banking systems in India and Bangladesh have to sign separate agreements on using rupee.
Meanwhile India-Bangladesh Chamber of Commerce and Industry (IBCCI) has submitted the total trade account to the central bank in the form of a proposal. This initiative is being taken to overcome the existing dollar crisis, sources said.
Bangladesh Bank spokesperson Md Mezbaul Haque said that India-Bangladesh trade, using rupee instead of US dollar, is still in the experimental stage. Some issues still need to be settled.
In response to a question whether there will be a fixed annual dollar quota for opening LCs, he said, LCs will be opened according to the needs of businessmen. But the only source of rupees is from the export earnings of Bangladeshi goods in India.
Currently India is trading in rupees with Russia, Mauritius, Iran and Sri Lanka.
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(Excerpt) Read more at bd-pratidin.com ...
1/3 1/2 Fox Business
Brazil, China strike trade deal agreement to ditch US dollar
3/30/23
“Brazil and China have reportedly struck a deal to ditch the U.S. dollar in favor of their own currencies in trade transactions.
The deal, announced Wednesday, will enable China and Brazil to carry out trade and financial transactions directly, exchanging yuan for reais – or vice versa – rather than first converting their currencies to the U.S. dollar. ...”
https://www.foxbusiness.com/markets/brazil-china-strike-trade-deal-agreement-ditch-us-dollar
2/3 Zee News Rupee To Replace Dollar? Indian Money Nearer To Become International Currency — Check List Of Countries [18] Agreed To Trade In INR
3/17/23
New Delhi: India has been attempting to internationalise the rupee for a long. Nowadays, currencies like the US dollar, Euro, Japanese yen, British pound, and to a lesser extent, the Chinese yuan, can claim to be a global reserve currency. But, the latest report suggests that India has made tremendous progress towards giving the rupee this status.
The latest report says that as more nations try to de-dollarize international trade, the Indian rupee is getting closer to becoming a recognised currency. The opening of 60 special rupee vostro accounts in 18 countries, including Russia and Sri Lanka, has been authorised by India’s central bank, the RBI, in order to facilitate the smooth operation of international trade in INR. ...
List of countries allowed to trade in Indian rupees
- United Kingdom
- Malaysia
- Russia
- Singapore
- New Zealand
- Sri Lanka
- Myanmar
- Botswana
- Israel
- Fiji
- Oman
- Germany
- Kenya
- Guyana
- Mauritius
- Seychelles
- Tanzania
- Uganda
3/3 Trending Politics
India Abandons US Dollar In Trade Deal With Malaysia
4/1/23
https://trendingpoliticsnews.com/india-abandons-us-dollar-in-trade-deal-with-malaysia-paub/
The Plan is working. The cabal whose objective is the destruction of the USA is succeeding, thanks to America’s useful idiots. America is being destroyed from within—and also from without.
your usual America-hatred is starting early today
The America haters and destroyers are in Washington DC.
Blaming the victims who happen to notice is not appropriate.
Quiet, Biden shill. You had two opportunities not long ago to criticize Biden and you didn’t though the pitces over the place from me to you were an easy hit for you. So you obviously support Biden, hate conservatism, and are a phony on that so you’re the last to say anyone hates America.
You attack others on this because your brand of faux or cheap conservatism won’t address the neocon/neoliberal policies that have gotten us in thus mess so you’ll make boogeyman out of others.
Grow up.
When the strongest economy in the world is still the U.S. (despite Biden and democrats), and Russia is a third-world economy and China is still far behind the U.S., those countries are fooling themselves if they believe that there’s a new world order.
Yep. Those who love America will always go after the policies of Biden, the neocons/neoliberals who got us in this mess and not after those who have continually point out what they are doing and who also say they don’t support Putin invading or Zelensky also messing things up.
Translation: Bangladesh is being re absorbed into India
you’re a clueless liar about me AND an America-hater
I don’t jump thru your hoops on command so FO
go back to posting your usual America-hating articles
I guess India and Brazil can patrol their own relative shipping lanes on the open sea.
neocon....... you got to say neocon
neocon....... you got to say neocon
They will undoubtedly have to, but why try to be a global cop (or something akin to it) doing this in the first place?
Honey, there’s a crack in the windshield.
There are going to be a lot of dollars “coming home.” Just a few at first. Then a trickle. Then there will be a rush to get out.
It’s not happening because of India and Bangladesh. Nor because of Brazil. But each pair adds to more dollars being sold.
And we thought inflation was bad last year. If the trickle turns into a stream…things could turn quickly.
These countries just need a decent currency to run to.
They do not want to be dragged down with us.
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