Rupee inches closer to becoming international currency


The Indian Rupee (INR) has now been accepted by 18 countries from across the globe for transactions. The move may be viewed in line with the Narendra Modi government’s push to promote the Rupee on a global stage as an international currency. Last year, the RBI and the Finance Ministry had asked the top management of banks to push export and import transactions in INR. The full list of countries that accept payments in INR are Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda and the United Kingdom.