Challenging dollar hegemony, Sri Lanka to trade with Russia in INR
Posted on December 21st, 2022

By Oneindia Copy Writer

Sri Lanka is also mulling to trade with countries like Tajikistan, Cuba, Luxembourg and Sudan in Indian rupee. Being a leading economy in the world, India is offering the much-needed respite to the countries that are short of US dollars.

New Delhi, Dec 21: Although this is being done in the most amicable manner, and India has clearly admitted that acceptance of Indian rupee (INR) is merely to help out the nations falling short of US dollar, it is definitely a challenge to the hegemony of US dollar (USD) for over a century. Now, the latest entrant into the ‘INR club’ is Sri Lanka which has agreed to use INR for international trade, especially with Russia.

In addition to Russia, Sri Lanka is also mulling a plan to trade with countries like Tajikistan, Cuba, Luxembourg and Sudan in INR. India being a leading economy in the world is offering the much needed respite to the countries that are short of USDs. These nations are facing difficulties in their trade settlements and to help them India has decided to support the INR.

Read more at: https://www.oneindia.com/india/challenging-dollar-hegemony-sri-lanka-to-trade-with-russia-in-inr-3502348.html?story=1

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