SCO & BRICS latest news and insights
— In-depth analysis and comments

The Indian currency exchange rate is in a narrow range against the dollar, but is steadily growing against the ruble.

By Rhod Mackenzie

The Indian rupee begins trading on Thursday, February 1, with a slight decline against the American currency - by 0.08%, to 82.97 per dollar. Overall, the pair has traded around 83 per dollar since mid-January, slightly weaker than its four-month high of 82.8 reached on January 1...

Russia Currencies BRICS Trade India Dollar Rupees Rubles
India’s First Rupee Payment for UAE Oil Set to Spur Two-Way Trade Boom

India, the UAE’s second-largest trading partner, has made its first-ever payment in rupees for crude oil purchased from the Emirates, signalling what could be a paradigm shift in dollar-denominated global trade transactions while giving a game-changing fillip to the booming two-way trade that is on...

BRICS Trade United Arab Emirates Oil India Rupees
No to dollars. India has decided the fate of frozen Russian rupees

By Rhod Mackenzie

Russia has amassed “billions” of rupees with restricted convertibility through trading with India. However, as Indian exports to Russia are ten times less than their imports, these rupees cannot be utilised. In response, partners suggest investing them in local corporate bonds....

BRICS Russia Trade India SCO Curencies Rupees Rubles