Russia and India can switch to settlements in national currencies

In the near future, Russia and India may switch to mutual settlements in the national currency in the field of military-technical cooperation. Such a decision may be made because of the introduction of unilateral measures by the United States in relation to Russia, which complicate trade between countries in armament and technology, writes The Economic Times.

According to the publication, the introduction of sanctions prevents the financial operations between Moscow and New Delhi in the field of trade in Russian weapons, and also complicates the repair work on the nuclear submarine "Chakra", leased to India by the Russian side. To date, the delay in payments is at least 2-s billion. According to unnamed high-ranking sources in the Ministry of Defense of India, the only way out of this situation will be to introduce settlements in national currencies pegged to the rate of any international currency.

At the moment, official confirmation of this information has not yet been received, but this information is not new. The last time Russia and India discussed the transition to national currencies in settlements were in 2017, when following a meeting at the St. Petersburg Economic Forum, Russian President Vladimir Putin and Indian Prime Minister Naredra Modi adopted a joint declaration in which they said they intend to "coordinate efforts on the implementation of the system of mutual settlements in national currency in bilateral trade "

In total, consultations on this matter between the Central Bank of Russia and the Reserve Bank of India have been going on since 2009.

Comments

[Loess]

This is certainly good, but everything will still be tied to the dollar ...

[solzh]

Are you right, at what rate will the calculations be made? What will be the indicator in the assessment of national currencies in settlements between countries? If we assume that there will be gold instead of the dollar, then the price of gold is still in the dollar.

[DenZ]

Quote: solzh

If we assume that there will be gold instead of the dollar, then the price of gold is still in the dollar.

Of course, it can be assumed, but gold can also be valued in the national currency of any country, it is advisable only that the currency of this country be provided with a gold reserve of that country (which the Americans refused to abolish providing dollars with American gold).

[Shurik70]

Any supranational (independent) standard is better than the dollar (like any other currency).
The problem is that the price of gold is unstable.

We must agree to consider the standard as a "conditional equivalent" calculated from purchasing power (the price of the minimum grocery basket, as well as the prices of clothes, housing, luxury goods are taken into account).
To agree on the introduction of such a standard is the most important stage in the formation of peace and stability on the planet.

[Sergey ippon]

it makes sense only in dollars!
because the intermediaries want to cut down in bold, it's easier, or nothing will grow together.

[Lena Petrova]

Courses natsvalyut in relation to each other and so are present. It makes no difference - you can also calculate the euro. But payments will go directly.

[Nasrat]

Strangely enough, but investments in the American securities were reduced in 2-e:

[A. Privalov]

Quote: Nasr

Strangely enough, but investments in the American securities were reduced in 2-e:

There, at least they earned a solid profit as a percentage of payments, and it was not easy to drag them away. Tomorrow, everyone will begin to ask, but where did our money go, what did they get in American securities? Not a good life thrown off. Looks like urgent cash someone needed.

Calculations lead conveniently. Rupee to the hem is almost 1: 1. I imagine the rupees taking the truck to Moscow. Yes, and you can store them right on the street in paper bags. Who needs them there? You can not exchange, spend only in India, and there dragged - it will become more expensive.

[Nasrat]

Everything is very simple - earlier in Congress they proposed to ban transactions with the Russian state debt for six months and impose sanctions against the seven leading banks of Russia ....

The Federal Open Market Committee of the US Federal Reserve System (FRS) raised the rate for the second time this year. Following the meeting, which ended on June 13, the rate increased by 25 basis points to 1,75-2%. The Fed also suggests that the rate will rise this year twice more. Previously it was assumed only three increases for the year. - see rushing Americans economy !!! We are waiting for another global crisis ..

[A. Privalov]

Quote: Nasr

Everything is very simple - earlier in Congress they proposed to ban transactions with the Russian state debt for six months and impose sanctions against the seven leading banks of Russia ....

The Federal Open Market Committee of the US Federal Reserve System (FRS) raised the rate for the second time this year. Following the meeting, which ended on June 13, the rate increased by 25 basis points to 1,75-2%. The Fed also suggests that the rate will rise this year twice more. Previously it was assumed only three increases for the year. - see rushing Americans economy !!!

I do not know. In our country, the bank rate is already five years 0,1%, and a statement from the Central Bank says that the economic activity of the country is developing at a good pace and even exceeds the projected growth rates. (According to the bank's forecasts, the economic growth in Israel will be 2018% , and in 3,4, 2019%. The inflation rate in 3,5 is expected to be 2018%.)

[Nasrat]

Actually, I don’t care how it is in Israel, I would say yes on the drum ...

[A. Privalov]

Quote: Nasr

Actually, I don’t care how it is in Israel, I would say yes on the drum ...

This is just for example I cited. A change in the discount rate within such limits does not truly reflect the actual state of the country's economy.

[Lena Petrova]

Is it in Israel that calculations are made? I thought just credited to the account. And it looks like, they carry dump trucks. :)) You can immediately make payments for pharmaceuticals, chemicals, etc. goods.

[A. Privalov]

Quote: Lena Petrova

Is it in Israel that calculations are made? I thought just credited to the account. And it looks like, they carry dump trucks. :)) You can immediately make payments for pharmaceuticals, chemicals, etc. goods.

Then, Lena Petrova, it is necessary to hurry. Waste paper in the price. Today, for another Indian rupee, one American cent is given, and tomorrow - they will give in the face. (sorry for rude word!)

[dSK]

Quote: A. Privalov

Today, another Indian rupee - they give one cent American,

The ruble is also not much behind, parity is ensured ...

[Lord of the Sith]

And we don’t know the reports for April and May.

[MPN]

Quote: Lena Petrova

Courses natsvalyut in relation to each other and so are present. It makes no difference - you can also calculate the euro. But payments will go directly.

Payment in general, it can be made, whatever ...., even with bricks. But how to steal bricks from the budget? Yes, the question is ...

[solzh]

Quote: Lena Petrova

payments will go directly

Payments are now going directly, only in dollars ...

[krops777]

This is certainly good, but everything will still be tied to the dollar ...

Not necessarily, it is possible to the euro or RMB, or even better to gold. I said Trump for a long time our man does everything to dump the dollar.

[forty-eighth]

Quote: krops777

I said Trump for a long time our man does everything to dump the dollar.

But it just doesn't work
Amid talk of a US-China trade war, dollar futures rushed up. Today Si (futures dollar-ruble) by gluing shows 64715. So it’s worth waiting for 64,72 rubles. for a dollar from the Central Bank, if nothing changes.

[Alex_Rarog]

With China, it seems, too, in national currencies, calculations are being introduced. Now and india. By quiet sadness, the dollar falls out of circulation ...

[Wild_grey_wolf]

Well, that continue to consult for another 100 years, That's the answer to what the Central Bank does.
Everyone dreams of independent transfers, of international credit cards.
And did not try to do. I don’t even want to swear, but they talk about some ups.

[Nasrat]

"coordinate efforts to introduce a system of mutual settlements in national currency in bilateral trade"

We are working with China ... settlements in RMB are taking place. The Chinese do not really go for it, but they do ...

[Wild_grey_wolf]

Yes, I don’t believe it, it’s cooler to consult for decades))), the main thing is not to do anything and talk about raising the GDP.

[Nasrat]

You don’t understand, I work with China, I pay in RMB .. sometimes in dollars - but this is when the Chinese beg ...

Hindus are cunning ... You can work with them, if only the enterprise controls the local rajah, otherwise they will definitely cheat!

[Wild_grey_wolf]

Yes, I understood everything))))) It was SARCASM.
Although you know when the state needs everything, it immediately begins to work, and not consult.

It was just so badly needed, although this issue has ripened long ago.

[Krasnodar]

Quote: Nasr

You don’t understand, I work with China, I pay in RMB .. sometimes in dollars - but this is when the Chinese beg ...

Hindus are cunning ... You can work with them, if only the enterprise controls the local rajah, otherwise they will definitely cheat!

But Raja will not deceive?

[Nasrat]

Quote: Krasnodar

[
But Raja will not deceive?

Maybe ... and in this case there should be communications through the FSB ...

[Alexander Romanov]

Quote: Wild_Grey_Wolf

Well, that continue to consult for more years so 100, Here is the answer what the Central Bank does

Stop whining already

[Wild_grey_wolf]

Quote: Alexander Romanov

Quote: Wild_Grey_Wolf

Well, that continue to consult for more years so 100, Here is the answer what the Central Bank does

Stop whining already

Read able?
Follow the tongue SANYO talker for the language.

In total, consultations on this matter between the Central Bank of Russia and the Reserve Bank of India have been going on since 2009.

This is called FACT and SARCASM.
Although when something is missing in the head. . .

[solzh]

Vladimir, the issue of switching to settlements in national currencies is rather complicated. We must take into account too many different factors, both Russian (including our notorious bureaucracy), and Indian and not only. Plus, interference from the IMF and others about US financial institutions.

[Wild_grey_wolf]

No, but I’m opposed, you need to consider so let them do it. Other countries somehow establish contacts, and not just consult, You see, they consult, it means it was not necessary at all. So far we have been working on the finished SWIFT, but the question has long ripened.

[solzh]

Quote: Wild_Grey_Wolf

you need to consider so let them do it. Other countries are forging relationships, not just consulting

And here there is a barrier in our absence of professionals. Alas:(((

[Wild_grey_wolf]

Well, we go out to my Sarcasm. It’s easier to consult for 10 years, so in a quiet one it was possible for 100 years))). They created activity, so to speak. And they expected results from them. And now the problems are urgently needed.

This is clear.

[Mountain shooter]

It doesn’t matter what currency they will be tied to. It is important that payments go without delay. And without the control of the world gendarme, hegemon, etc.

[bouncyhunter]

The less dollars in mutual settlements between countries - the worse the mattresses.

[A. Privalov]

Quote: bouncyhunter

The less dollars in mutual settlements between countries - the worse the mattresses.

In other words, if someone suddenly begins to conduct settlements in, say, Mongolian tugriks, then Mongolia will become better from this?

[bouncyhunter]

Quote: A. Privalov

Mongolia will be from this better?

In Mongolia, from this holiday will happen.

[A. Privalov]

Quote: bouncyhunter

Quote: A. Privalov

Mongolia will be from this better?

In Mongolia, from this holiday will happen.

Well, if you decide to upset Americans so dramatically, and so easily organize a holiday for the Mongols, please the Zimbabwean brothers.

It is a 100 denomination trillion of Zimbabwean dollars. To buy a loaf of bread, you need 450 such banknotes.

[solzh]

Quote: Mountain Shooter

It doesn’t matter what currency they will be tied to. It is important that payments go without delay. And without the control of the world gendarme, hegemon, etc.

Here it is necessary to establish a firm course between our ruble and the Indian rupee. There will be no delays in payments if there is no control by the IMF, and this is already complicated. The United States is not profitable to miss international calculations. Therefore, I think the problems will be and possibly related precisely to delays in payments.

[svp67]

Russia and India can switch to settlements in national currencies

They can, then they can, just as they are not ready to go against the USA and its Fed. The answer will arrive immediately and not frail, Gaddafi could tell about it if he was alive

[farcop]

You see, they are switching from to mutual settlements in national currencies with China, with Turkey, with India. But in America it’s better and in Russia it’s worse. Maybe it’s all the same in the conservatory?

[solzh]

Our conservatory is the best in the world. Yes, in Russia it’s not good, one might even say bad. But in the states, things are no better than in any other country. At least your favor how much is it already there?

[farcop]

Quote: solzh

in the states no better

Yeah, and because 250.000 Russians a year dream of getting a green card.

[solzh]

Deja vu. In my opinion, we discussed this issue of green cards last year, or not with you?

[farcop]

Quote: solzh

last year discussed

And has something changed from this? By the way, can you tell us how many Americans are in line to move to Russia?

[notingem]

Blacks are definitely not worth it

[solzh]

Nothing in this world is changing, not even you. Come back last year, you and I then had a good talk about it, but I’m not interested in the past. Reluctant to raise that conversation, I see no reason.

[farcop]

You then did not answer:

By the way, can you tell us how many Americans are in line to move to Russia?

and now turn around, but do not answer. 250000 against?

[solzh]

https://topwar.ru/129741-oon-chto-dyshlo-kuda-pov
ernesh-tuda-i-vyshlo.html
You spoke under that name "Mahma" in that dialogue. How many names do you have, however.

[farcop]

Quote: solzh

You spoke under that name "Mahma" in that dialogue.

Well?

Quote: solzh

How many names do you have, however.

They killed Mahma, his kingdom, but your answer is no.

[solzh]

1. I answered you, I am not willing to raise our last year’s conversation. If you are interested in that conversation, I don’t.
2. During this time, you have not changed anything from your set of manuals in the answer-question section. When a person doesn’t really shine like a Govorun bird, the only thing left for him is to use the “buy an elephant” method.
3. After I understood who you are, you are not interested in me as an interlocutor.

[keeper03]

And what prevented this from happening before ?! There were no sanctions? So there you go! Let's get the USA along with its green candy wrappers faster on the side!

[Wild_grey_wolf]

Well, active work, consultation is easier and more fun to do))). And if they did everything right, then what would they do then.

[Karabin]

Russia and India in the near future may switch to mutual settlements in national currency ....
In total, consultations on this matter between the Central Bank of Russia and the Reserve Bank of India have been ongoing since 2009.

That is, by 2027. They can go over. Or they may not go over. In general, the journalists of The Economic Times needed to write about something, and the VO website had to retype something.
PS Something is not heard from commentators that omerika after such news again kirdyk. I remember it earlier: "China and the Russian Federation are considering the possibility of mutual settlements in national currencies," or "BRICS Bank has been created." Kilometers of comments about the upcoming kirdyk with throwing bonnets and earflaps. And now!? Are the screamers gone mad or wiser?

[Lena Petrova]

Quote: solzh

Payments are now going directly, only in dollars

Well, after all, dollar payments are known which way they do.

[23424636]

9 years of consultations and nothing. Take the experience of the USSR, which practiced clearing settlements with India, Finland, Yugoslavia when exports were paid off by imports and the balance (difference) in the stipulated conditions remained for the next period or was extinguished by other means .NO to exporters due to the difference in buying and selling currencies for components and services do not really like it, although Indians as payers are very complex customers, they will certainly not pay. Therefore, any departure from the dollar is already a victory. , especially in conditions when the director of VTB Kostin said that the dollar as a means of payment should already be forgotten.

[Wolverine]

[quote] [/ quote] In total, consultations on this matter between the Central Bank of Russia and the Reserve Bank of India have been ongoing since 2009

This phrase touches me the most, maybe the central bank is an enemy? They give birth for nine years, it's some kind of kapets ...

[NF68]

Someone would not like the idea of ​​calculating not in dollars.

[Xscorpion]

Quote: A. Privalov

Quote: Nasr

Strangely enough, but investments in the American securities were reduced in 2-e:

There, at least they earned a solid profit as a percentage of payments, and it was not easy to drag them away. Tomorrow, everyone will begin to ask, but where did our money go, what did they get in American securities? Not a good life thrown off. Looks like urgent cash someone needed.

Calculations lead conveniently. Rupee to the hem is almost 1: 1. I imagine the rupees taking the truck to Moscow. Yes, and you can store them right on the street in paper bags. Who needs them there? You can not exchange, spend only in India, and there dragged - it will become more expensive.

Do you think that they will pay in cash? They didn’t hear about the banking system? Russia will not buy anything there for rubles, and India will not buy anything for rupees. India will also receive everything in rupees, and Russia in rubles. None of these rupees even it won’t hold hands. Yes, and any currency can be thrown off at currency exchanges for a long time. At least rubles, at least rupees.