Indian rupee to be the major reserve currency that will be traded internationally

[OrionHunter]

The Indian Rupee and Chinese Renminbi (RMB) must replace the US dollar as international currency, to defeat the West economically. This should happen by the end of the next decade.

 

[Bilal9]

China has managed their Finance very badly. they have a huge bad debts. China will pay the price for that.

Oh how the vulture wishes that cattle would die. If only wishes became true...

 

[Beidou2020]

China has managed their Finance very badly. they have a huge bad debts. China will pay the price for that.

Indian debt to GDP is over 1500% with budget deficit and trade deficit and collapsing currency and low growth.
Indian economic miracle is dead.

 

[mike2000]

China has managed their Finance very badly. they have a huge bad debts. China will pay the price for that.

Tell you the truth, India is in a way way more bad situation financially than china(whose foreign reserve alone is twice india total GDP and enjoys a huge trade surplus unlike india). Theres simply no comparison. I dont know if what you said was sarcasm or u were serious.

Coming to the topic, talk of the yuan or even less so the rupee replacing the dollar is far fetched, the dollar will remain the world reserve curency for a longggg period to come, for at least 3 decade or more.
China who is the only country who i believe in a distant future stands a chance of replacing the dollar, still has lots of catch up to do financially speaking. China will have to liberalise its financial system/ market/allow its currency to float freely, implement real market reforms and allow its economy to be more market oriented than state/investment led. There are lots of things it will have to do to achieve this. I dont see that happening anytime soon. As an example we can see how most large chinese internet/technology companies who are as big as their american counterparts read BAIDU, alibaba, qihoo, tencent, JD etc are all listed/about to be listed in the U.S instead of their home country in china (though some are listed in hongkong as well). This shows that china financial market is still relatively backward compared with the U.S. so even though china might be the world largest trader it still has a longggg way to go to make its currency on par with the dollar.

India has even less chance since its world trade is almost insignificant below even south korea. However india financial market is quite open/similar to that of the west, mainly because their system is derived/inherited from our system in the U.K since we colonised the country . In this aspect India is ahead of china in its financial market/stock market openess/liberalisation.
So overall all these talk of dollar being replaced is just mere wishful thinking. Many things will have to happen for that to be a reality IMO. The U.S will still remain the worlds dominant power for decades to come.

 

[Tshering22]

The Indian Rupee and Chinese Renminbi (RMB) must replace the US dollar as international currency, to defeat the West economically. This should happen by the end of the next decade.

How? Chinese may be able to get to that level but how can we if we continue like this?

Our manufacturing is the weakest in all the BRICS countries aside from South Africans.

We don't have a strategic military industrial complex that generates billions worth of IP every year with research applications in civil sector.

With a corrupt opposition obsessed with family glory rather than supporting a ruling government in developing the country, it is like dealing with a burden that you cannot remove from your back.

The tax regime is further so useless that no investor would want to invest massively in indian manufacturing.

If we add useless state level mentality like the unionist mentality in WB and Kerala where there is so much intellectual potential and education but is never used, or for that matter, an entire northeast region of India which has zero developmental industries, we cannot have rupee as a reserve currency.

For example, if China asks Kuwait to sell oil in Renmibi, Kuwait can agree because it can ramp up buying from China in its own currency.

But what hi-tech stuff do we have to give in exchange for others buying stuff from us in Rupee?

It will take a decade of hard-nosed leadership like the current one that has come without any gaps or issues in order to reach that level.

We have the potential but are not using it.

Tell you the truth, India is in a way way more bad situation financially than china(whose foreign reserve alone is twice india total GDP and enjoys a huge trade surplus unlike india). Theres simply no comparison. I dont know if what you said was sarcasm or u were serious.

Coming to the topic, talk of the yuan or even less so the rupee replacing the dollar is far fetched, the dollar will remain the world reserve curency for a longggg period to come, for at least 3 decade or more.
China who is the only country who i believe in a distant future stands a chance of replacing the dollar, still has lots of catch up to do financially speaking. China will have to liberalise its financial system/ market/allow its currency to float freely, implement real market reforms and allow its economy to be more market oriented than state/investment led. There are lots of things it will have to do to achieve this. I dont see that happening anytime soon. As an example we can see how most large chinese internet/technology companies who are as big as their american counterparts read BAIDU, alibaba, qihoo, tencent, JD etc are all listed/about to be listed in the U.S instead of their home country in china (though some are listed in hongkong as well). This shows that china financial market is still relatively backward compared with the U.S. so even though china might be the world largest trader it still has a longggg way to go to make its currency on par with the dollar.

India has even less chance since its world trade is almost insignificant below even south korea. However india financial market is quite open/similar to that of the west, mainly because their system is derived/inherited from our system in the U.K since we colonised the country . In this aspect India is ahead of china in its financial market/stock market openess/liberalisation.
So overall all these talk of dollar being replaced is just mere wishful thinking. Many things will have to happen for that to be a reality IMO. The U.S will still remain the worlds dominant power for decades to come.

But you must agree that its impact will wane and it will not remain the dominant currency that it is today.

The point is, if groups like BRICS or even EU accept payments in each others' currencies only, so Euros, Renmibi, Real, Rupee, Ruble and Rand will step in and take the charge.

 

[ashok321]

Pakistan would be more than happy..

 

[OrionHunter]

How? Chinese may be able to get to that level but how can we if we continue like this?

I think we're on the path of revival from a moribund economy, thanks to the mis-governance of the previous regime. It would probably take a decade, but well get there.

Read this...Indian rupee to be the major reserve currency that will be traded internationally: Britain's ministry of defence - The Times of India

 

[Donatello]

China has managed their Finance very badly. they have a huge bad debts. China will pay the price for that.

Some of the biggest banks in the world are Chinese.You might want to check that list. They are literally sitting on heaps of cash and don't know where to invest.

 

[Armstrong]

This has got to be a joke; anyone who has ever had anything to do with the FOREX Market knows that exotic currencies like the INR or others are well down the pecking order in terms of being traded let alone being considered for the reserve currency of the world !

If the Dollar ever looses its standing as the reserve currency of the world....the next two most traded currencies - the Euro & the Yen - are going to take its place !

 

[Imran Khan]

i have to start collect Indian rupee from now?

 

[ashok321]

Pakistan would be more than happy..

Pakistan would be a billionaire in fact..

 

[OrionHunter]

This has got to be a joke; anyone who has ever had anything to do with the FOREX Market knows that exotic currencies like the INR or others are well down the pecking order in terms of being traded let alone being considered for the reserve currency of the world !

If the Dollar ever looses its standing as the reserve currency of the world....the next two most traded currencies - the Euro & the Yen - are going to take its place !

Read this...Indian rupee to be the major reserve currency that will be traded internationally: Britain's ministry of defence - The Times of India

 

[Armstrong]

Read this...Indian rupee to be the major reserve currency that will be traded internationally: Britain's ministry of defence - The Times of India

I've read it; its hilarious especially the 'secret' internal assessment part !

If the US Dollar ceases to be the reserve currency of the world & that is a big 'if', there are other stronger currencies waiting in the line well before the Indian Rupee !

 

[OrionHunter]

I've read it; its hilarious especially the 'secret' internal assessment part !

If the US Dollar ceases to be the reserve currency of the world & that is a big 'if', there are other stronger currencies waiting in the line well before the Indian Rupee !

But it's also possible that most of them may nose dive to oblivion! And that is what is likely to happen!

 

[Armstrong]

But it's also possible that most of them may nose dive to oblivion! And that is what is likely to happen!

Yes its possible because anything is possible though its unlikely.....but if they nose dive the INR, the Chinese Yuan & other emerging economy currencies are going to nose-dive with them leaving the US Dollar the reserve currency of the world just to maintain the status quo because that'll mean stability !