The default payment currency for all contracts for import of crude oil is US dollar as per the international trade practice. However, in a bid to internationalise the Indian currency, the Reserve Bank of India on July 11, 2022 allowed importers to pay with rupees and exporters be paid in rupee.
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No Takers For Rupee Payment For Oil Imports
![No Takers For Rupee Payment For Oil Imports]()
Reviewed by aamira sultan
on
December 24, 2023
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