US Dollar Bypassing? India Japan Local Currency Trade: How Yen-Rupee Settlement Can Reduce Costs and Transform Bilateral Commerce
India and Japan are exploring a groundbreaking: India Japan Local Currency Trade framework that would enable direct settlements in yen and rupees, reducing reliance on the US dollar. The proposed mechanism aims to lower transaction costs, minimize foreign exchange risks, and speed up cross-border payments. It is expected to strengthen bilateral trade, boost investment flows, … Read more