Military Review

Threat to dollar "hegemony": India offers foreign trade in rupees

Threat to dollar "hegemony": India offers foreign trade in rupees

The threat of the "hegemony" of the dollar is becoming more and more serious and real for the United States. At the same time, Washington itself launched the process of reducing the role of its national currency as a world reserve, primarily by rash actions in the field of sanctions policy.

The unprecedented economic restrictions and the “freezing” of Russian assets have caused concern among many states, thereby reducing the latter’s confidence in the dollar. As a result, Russia, Iran, India, China, Saudi Arabia and many Latin American countries began to use national currencies in mutual settlements, thereby launching the process of “de-dollarization”.

At the same time, if for Russia and Iran the aforementioned decision is more of a tool to circumvent sanctions, then India, apparently, is making “big plans” for the internationalization of the rupee.

Thus, New Delhi offers countries that are faced with a shortage of the dollar to use the rupee as a means of mutual settlements, Press TV reports.

The material says that by doing so, the Indian authorities are trying to protect foreign trade, gradually removing it from the influence of the dollar, and in parallel to ensure the status of an "alternative" reserve currency for their national currency.

It is worth noting that all this poses a serious threat to the US economy. Especially considering the fact that India plans to increase the volume of its foreign trade to 2 trillion. dollars by the end of this decade.

Moreover, the BRICS countries are also working on the creation of a new form of currency for mutual settlements, which will soon be joined by Iran and Saudi Arabia.
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  1. populist
    populist April 3 2023 12: 12
    De-dollarization is starting to gain momentum. Who's next on the run from the dollar?
    1. evgen1221
      evgen1221 April 3 2023 12: 18
      Africa and oil monarchies most likely.
    2. credo
      credo April 3 2023 12: 24
      Quote: populist
      De-dollarization is starting to gain momentum. Who's next on the run from the dollar?

      Before singing the anthem of "de-dollarization" it is necessary for the governments of those countries that are ready to play in this field against the US dollar to put their special services in order and sweep away with a filthy broom all NGOs and other foreign agents working day and night for the Anglo-Saxons.
      The Anglo-Saxons and the Yankees, in particular, will not let such a chicken laying golden eggs to be slaughtered just like that and will protect it with all their might, simultaneously trying to arrange a coup d'état in countries that are recalcitrant to the dollar.
      1. d1975
        d1975 April 4 2023 22: 37
        Great, but what about the Yeltsin Center hotbed? Schoolchildren of the Sverdlovsk region are dragged there several times. For what ? It is generally interesting about Yekaterinburg and respected people say this! Our bureaucrats both stole and steal beautifully, giving ground to people like FBK! Many relatives of bureaucrats behave simply morally. What's this ? And you say NGO. How did someone talk about a log there? Here's what to think about. Money pioneered from under the nose and nothing, everything is in place and Nabiulina too. The Central Bank, as it was a buck horse, remained so. Under government programs, the Central Bank gives money at interest))) further curtain. There is no need for an NGO here ...
    3. DMFalke
      DMFalke April 3 2023 12: 28
      De-dollarization will lead to the struggle of world currencies for the right to take a place. And all the same, there will be one running world currency - it does not matter, the dollar, the pound, the yuan. The essence will not change much.
      The single currency will always have an advantage, the only question will be who will print it. Definitely not us.
      Run from the dollar, run to the yuan with Chinese hegemony. What is what is.
      1. Azim77
        Azim77 April 3 2023 14: 16
        And why does the world currency have to be the currency of one state and everyone has to work for the sake of its economy? The situation is probably already ripe for the transition to a supranational reserve currency. Digitalization and computer resources already allow. Yes, and not from scratch, but for example on the basis of SDR - special drawing rights. To be honest, I'm not a specialist, I just found it on the Internet. But clearly there is logic in being able to do it now.
  2. I dare to_notice_
    I dare to_notice_ April 3 2023 12: 17
    China... India...
    Too shy to ask...
    Has Russia already officially proposed the ruble as a unit of account in foreign trade?
    I must have missed something..
    1. tralflot1832
      tralflot1832 April 3 2023 12: 32
      With the West, we trade in many positions through the ruble. True, so far because of our sanctions. The ruble acts as an intermediary.
      1. d1975
        d1975 April 4 2023 22: 39
        You will see the parade with the draped Mausoleum and you will understand everything. yes
    2. QuestionsNeudobny
      QuestionsNeudobny April 3 2023 12: 39
      what for? Russia is quite satisfied with everything. and clean hands.
    3. nik-mazur
      nik-mazur April 3 2023 12: 42
      Quote: I dare_notice_
      Has Russia already officially proposed the ruble as a unit of account in foreign trade?
      And what is this most “officially offer”? As far as I understand, no one officially announces anything, but countries simply agree that trade is carried out using national currencies. Or do you definitely need spectacular loud statements in the spirit of armchair politicians?
      1. I dare to_notice_
        I dare to_notice_ April 4 2023 08: 29
        But not...
        The law would be enough for me.
  3. Anton_from_Brest
    Anton_from_Brest April 3 2023 12: 33
    I feel that, "suddenly", the aggravation between India and Pakistan will
  4. rotmistr60
    rotmistr60 April 3 2023 12: 41
    The threat of the "hegemony" of the dollar is becoming more and more serious and real for the United States.
    I would like to believe in it. But this process may be delayed and it is difficult to say for how long. Unless the United States themselves once again accelerate this with their actions.
  5. anjey
    anjey April 3 2023 12: 43
    A sharp rejection of the dollar is the Third World War, the Yankees are leading Europe to this, the dish must be served slowly and cold in order to stop the Club of the Rich Jewes Anglo-Saxons and use the collapse of the dollar to your advantage, Eurasia is the future, Europe and the USA are in economic shit and this is inevitable ...... New Forces - Russia, China, India, Indonesia, Venezuela, Nicaragua, Cuba, Brazil, South Africa and many affiliated countries ...
  6. paul3390
    paul3390 April 3 2023 12: 54
    Here the question is brewing - and then what to do with entimi rupees? Can I then buy goods on them, say, in Brazil or Mongolia there? No? Then what is the bazaar about?

    My deep IMHO - it is necessary to trade as before, according to intergovernmental agreements, in fact - by barter. And what he will be nominated for is absolutely not important, even in cowrie shells .. The fact itself is important - we have steel for you a ton, you give us two tons of cotton. Who exactly from firms will carry out deliveries - a private business of each party. The main thing is precisely barter, and precisely interstate. And then these types of market hucksters have already brought the planet to a complete mess ..
  7. Irokez
    Irokez April 3 2023 12: 57
    It is clear that countries with large and stable economies should provide their currency with a stable and reliable unit of account around the world. After World War II, it became the dollar pegged to gold. And since he got rid of gold, but by inertia was supported by the stability of the economy, then the dollar held out for so long.
    At the moment, in all respects, it begins to crumble in all respects, and only the Fed and the world's moneybags are trying to keep it or extend it as much as possible, and then everyone stays in the unknown and offers something of their own in order to take off on a wave of change.
    But whatever one may say, the alternative is vague for everyone.
    - The European Union will be blown away after the dollar, because consider the same currency backed by industry, but without energy resources it is full of holes and the food industry of the European Union is not as strong as in other countries. Yes, and the very system of organization of the European Union is bursting at the seams and the prospects for resisting are small.
    - China. Yes, the economy is strong, but again with support from outside energy resources with food. There are chances, but not so good.
    - India is like China, but even worse.
    - Russia, theoretically, yes, with a more or less stable economy, but not as big as China, India, the European Union and even the United States.
    - USA - drowned. Even if you bankrupt or bring to zero, then no trust.
    There remains a certain global or regional (several countries or even continents) system based on a common currency according to clearly and fairly designated rules. Well, let's say BRICS, the Customs Union, the EuroZian Union, the Region of Asian countries or Latin American countries, and of course the USA, Canada, Australia and little Britain as an association of Anglo-Saxons.
    No one knows how it will be because there are a lot of unknowns to solve this equation.
    1. Witcher
      Witcher April 3 2023 14: 43
      You have not been active as a commentator for a long time (write comments). Voting is prohibited.
  8. Woroshilow
    Woroshilow April 3 2023 12: 59
    I think that a settlement currency will be created first of all (something like the Euro in the EU, but only for settlements in foreign trade), within the framework of the BRICS countries, and then under the guarantees of the BRICS, everyone will switch to it in mutual settlements.
  9. rocket757
    rocket757 April 3 2023 13: 03
    Threat to dollar "hegemony": India offers foreign trade in rupees
    Those who are stronger or have attached themselves to someone strong can already afford to skimp on the one and only, not completely, but partially.
    In general, you can look at all this for a long time, there is no end in sight, for now, at least.
  10. AleksT
    AleksT April 4 2023 17: 08
    You can sell oil for rupees, of course. But what then to buy in India for these huge sums of rupees?
  11. Yaroslav Tekkel
    Yaroslav Tekkel April 4 2023 22: 38
    We have already traded with them for rupees. Now these rupees have nowhere to go. The Indian regulator does not allow changing rupees to other currencies. We ourselves do not want to buy Indian steel on them, there is nowhere to put our own. You cannot buy something difficult in India, there are Western licenses and sanctions. Indian pharma does not cover the balance. Their rice is good, but they sell it at exorbitant prices.