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Russia and India Cut Dollar Use: 90% of Direct Transactions in National Currencies

Author: Content Editor
Russia and India Cut Dollar Use: 90% of Direct Transactions in National Currencies
Russia and India are solidifying their financial cooperation and reducing their reliance on the U.S. dollar in international trade. Nearly 90% of direct transactions between the two countries are now conducted in their respective national currencies. Discussions are underway for the mutual recognition of Russia's Mir and India's RuPay payment systems, which could enhance financial integration. Trade between the two countries has been expanding, with Russian exports reaching $60 billion and Indian goods increasing to $4.5 billion. The growing use of national currencies highlights a global trend of reducing dependence on the dollar, and further financial and trade cooperation between Russia and India is expected.

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