How successful are India’s efforts to conduct international trade in rupee? | Mint Primer | Mint

India's Reserve Bank's move to allow international trade in Indian rupees aimed to cut the oil import bill and boost rupee adoption. It's shown progress in trade with Nepal, Bhutan, and Russia, with 34 Russian banks approved for Special Rupee Vostro Accounts. Importers pay in rupees, while exporters receive rupees via correspondent banks.