India to Bypass US Dollar and Trade in Local currencies with 23 countries

[faithfulguy]

We are really scared .....

If US is going to invade India, then Indian should be scared and wet their pants. but it look like many Indians already do that without US threats.

Fortunately, US do not plan to invade India with this diplomacy raw. At most US would do if India take US diplomats prisoners would be to send in Delta force to rescue the diplomats.

 

[KAL-EL]

Looks like finally US is damned ....

I'm already losing so much sleep over it

 

[faithfulguy]

Yep, I'm already losing sleep over it

Another US will collapse talk. It look like US and China are the only two countries that you will see a lot of predictions about being doomed. You never see any such predictions about India, especially about what happen to rupee this year. It look like no one can make a career out of predicting that India will be doomed.

 

[HunterKiller]

I'm already losing so much sleep over it

in few years, you will see yourself how good your arrogance was ...

 

[Srinivas]

If our army routinely violates Indian sovereignty, just imagine what the US military can do to you. India has no leverage over America. India is still a massive net debtor country.

For other countries to accept Rupees, you need to have a strong currency so the value don't depreciate. Indian Rupee is a banana republic currency that relies on hot money flows.
Rupee has collapsed from 40 to 60 which has seen the Indian economic 'growth' come crashing down. Holding the Rupee is like holding the Zimbabwean dollar.

Rupee should be renamed Dropee.

USA is in massive dept not India, I will be happy if GOI devalues rupee and maintains the inflation rates lower.

India is a rising power with lot of potential.

 

[KAL-EL]

in few years, you will see yourself how good your arrogance was ...

Arrogance!? I was sarcastically responding to your fellow Indian poster who said "Looks like finally US is damned" So who is being arrogant again? You know what, Nevermind. I see you mighty hyper-nationalists stick together. So of course you overlooked what he said.

 

[RangerPK]

American currency is backed by Oil, and how the world trades in dollars. I doubt Americans would like that idea, especially when it comes to trading Oil in any other currency. I would be interested in seeing how the Americans would react to this.

 

[Star Wars]

American currency is backed by Oil, and how the world trades in dollars. I doubt Americans would like that idea, especially when it comes to trading Oil in any other currency. I would be interested in seeing how the Americans would react to this.

The whole world is making currency swap agreements from , china to Australia to entire of Europe even Bangladesh and India has a currency swap agreement .....

 

[Beidou2020]

USA is in massive dept not India, I will be happy if GOI devalues rupee and maintains the inflation rates lower.

India is a rising power with lot of potential.

Indian inflation is over 11%.
That's banana republic territory.

 

[Star Wars]

India in talks with 10 countries for currency swap pacts - Indian Express

India is in talks with major trading partners, including Singapore and Japan, as well as oil suppliers like Iraq and Venezuela, to accept payment in rupee for a part of their exports.

The assumption is that the rupee is now acceptable de facto as a unit of currency by traders in markets like Singapore and so the barter trade will give it legitimacy.

Earlier this year, India has begun paying for oil imports from Iran in rupees that could help save $8.5 billion in the current fiscal.

It plans to target oil producing countries such as Venezuela and Iraq, too, for a similar arrangement. But while Iran is a special case, Iraq or Saudi Arabia have problems as they hardly import anything from India.

A larger volume of trade in rupee will expand the onshore market for the currency, which is now dominated by offshore non-deliverable forwards market.

1 month old news , but seems like we are already in the process


just put @Beidou2020 on ignore list...

 

[liall]

Indian inflation is over 11%.
That's banana republic territory.

why do you chinese posters have to come all these hateful posts when all we Indians show is love towards your country

 

[Srinivas]

Indian inflation is over 11%.
That's banana republic territory.

Inflation rates are varying all the time, fine!!!

 

[SrNair]

If US is going to invade India, then Indian should be scared and wet their pants. but it look like many Indians already do that without US threats.

Fortunately, US do not plan to invade India with this diplomacy raw. At most US would do if India take US diplomats prisoners would be to send in Delta force to rescue the diplomats.

US invade India.
Man where are you coming from?
This thread about currency swap between India and other 23 countries.
US attack countries ,only small unable poor countries like Iraq and Afghanistan.
If they attack India,they very well know what is the consequences.India is not some dictatorship,but world largest democracy.Sorry chinese dont know about democracy and its capacity.

Another US will collapse talk. It look like US and China are the only two countries that you will see a lot of predictions about being doomed. You never see any such predictions about India, especially about what happen to rupee this year. It look like no one can make a career out of predicting that India will be doomed.

US will not collapse .But their influence in world will be decline due to multi polar world .Prominently China ,other countries are India ,Russia,Brazil etc.US laready acknowledge it by themselves.

 

[AZADPAKISTAN2009]

That is a very big move , USA might not appreciate that tone

 

[SrNair]

Then you guys have to wait US reply and as far as i know if someone try is massing up with their economy they will put that country or countries it is end of their economy. I have few examples and the latest one is EU.

I dont think so, friend.EU is completely surrendered their soverignity to US.Each of them stationed
US military in their own soil .But India is different case.US is not even a large trading partner of India.