Rupee and Taka to replace Dollar as currency of exchange between India, Bangladesh

[Imran Khan]

Not sure if it's a wise thing to do right now. There could be requests for similar arrangements from China which the US wouldn't like.

now here is some some point there should be SCO arrangement

 

[Thevilone]

If india is prepared to be completely transferable with Taka then great, it will lay the foundation for a future south asian common currency.

For all practical purposes INR is transferable with Taka, at least in areas bordering BD. I live in Kolkata and hear a lot about this stuff, unlike Indo-Pak border Indo-BD border is very active economically. This activity can be turned into a national asset for both nations if channelised correctly.

I do not see a possibility of a future common currency due to multiple technical issues, but even if BD were to join UPI payments system, the currency issue would be rendered moot. It will benefit everyone (except the banks which charge fees for currency conversion).

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Not sure if it's a wise thing to do right now. There could be requests for similar arrangements from China which the US wouldn't like.

Nepal and Bhutan already accept INR for payments in many places, especially tourist attractions. I had used Gandhi to pay in Pokhara, Kathmandu and Paro. If we make a common currency along with SL and BD, it'll be beneficial to all. SL has woken up from it's CHina-dream and is now looking to build economic relations with neighboring countries.
BD is crucial to India as it's the gateway for NE India. NE is our least industrialized region and needs massive industrial reforms. Common currency would be good for all.
But, I think keeping Pak and Afganistan away for the moment might be a wise choice. Pakistan currency is too volatile and Afganistan has an unrecognized government.

 

[Species]

Nepal and Bhutan already accept INR for payments in many places, especially tourist attractions. I had used Gandhi to pay in Pokhara, Kathmandu and Paro. If we make a common currency along with SL and BD, it'll be beneficial to all. SL has woken up from it's CHina-dream and is now looking to build economic relations with neighboring countries.
BD is crucial to India as it's the gateway for NE India. NE is our least industrialized region and needs massive industrial reforms. Common currency would be good for all.
But, I think keeping Pak and Afganistan away for the moment might be a wise choice. Pakistan currency is too volatile and Afganistan has an unrecognized government.

As you mentioned, there are already easy currency exchanges between Taka and INR, the retailers in Kolkata have already started accepting Taka. But common currency is still a pipe dream at the moment.

There are lots of issues that need to be addressed, where will the central bank be located? Who would control the monetary policies? Given the mistrust in this region, I don't see these issues to be resolved any time soon. We already know about SAARC, even BBIN has become a failed initiative (Bhutan has already withdrawn).

There are also geopolitical factors, I personally don't think the major powers would like a common South Asian currency to develop. Even the ASEAN doesn't have any despite having a highly integrated regional economy.

 

[Imran Khan]

For all practical purposes INR is transferable with Taka, at least in areas bordering BD. I live in Kolkata and hear a lot about this stuff, unlike Indo-Pak border Indo-BD border is very active economically. This activity can be turned into a national asset for both nations if channelised correctly.

I do not see a possibility of a future common currency due to multiple technical issues, but even if BD were to join UPI payments system, the currency issue would be rendered moot. It will benefit everyone (except the banks which charge fees for currency conversion).

PhonePe launches international UPI service: Users can now make payments in these 5 countries

Indian customers need to use a foreign currency, or their credit or forex cards to pay at international merchant outlets but with the 'UPI international' payments feature, PhonePe can now use their Indian Bank accounts to pay using UPI.

www.zeebiz.com

Nepal and Bhutan already accept INR for payments in many places, especially tourist attractions. I had used Gandhi to pay in Pokhara, Kathmandu and Paro. If we make a common currency along with SL and BD, it'll be beneficial to all. SL has woken up from it's CHina-dream and is now looking to build economic relations with neighboring countries.
BD is crucial to India as it's the gateway for NE India. NE is our least industrialized region and needs massive industrial reforms. Common currency would be good for all.
But, I think keeping Pak and Afganistan away for the moment might be a wise choice. Pakistan currency is too volatile and Afganistan has an unrecognized government.

we simply said bring 20 dollars with you or you have to change them on border at kartarpur . but still indians bring indian currency which they have to exchange there . its not allowed to take indian currency at kartarpur shops too let alone in pakistan . if SCO make a currency that will be real deal . south asian all currencies are worthless sh1t as toilet paper .

 

[Thevilone]

As you mentioned, there are already easy currency exchanges between Taka and INR, the retailers in Kolkata have already started accepting Taka. But common currency is still a pipe dream at the moment.

There are lots of issues that need to be addressed, where will the central bank be located? Who would control the monetary policies? Given the mistrust in this region, I don't see these issues to be resolved any time soon. We already know about SAARC, even BBIN has become a failed initiative (Bhutan has already withdrawn).

There are also geopolitical factors, I personally don't think the major powers would like a common South Asian currency to develop. Even the ASEAN doesn't have any despite having a highly integrated regional economy.

After the collapse of Lanka, it has become clear that China cannot be trusted in economic matters. China left the Lankans to die and India has to step in with 3 Billion in aid.
Right now, entire South Asia is looking to consolidate and stabalise their currency, it is the best time to create a new regional currency. I strongly believe India, BD, SL, Nepal, Bhutan, Maldives and may be even Myanmar can join in and benefit from it. India and BD being the two bigger economies have to get the ball rolling.

we simply said bring 20 dollars with you or you have to change them on border at kartarpur . but still indians bring indian currency which they have to exchange there . its not allowed to take indian currency at kartarpur shops too let alone in pakistan . if SCO make a currency that will be real deal . south asian all currencies are worthless sh1t as toilet paper .

India and Pakistan have negligible trade, the amount of money exchanged in Kartarpur is pocket change and has no real impact. Neither is really interested in trade anyways. India has only allowed medicines to be exported and medical patients to come to India from Pakistan. Pakistan has no major trade with BD, Nepal. Bhutan or SL anyways. So Pakistan is a non-entity in this regional currency scenario.

 

[Imran Khan]

After the collapse of Lanka, it has become clear that China cannot be trusted in economic matters. China left the Lankans to die and India has to step in with 3 Billion in aid.
Right now, entire South Asia is looking to consolidate and stabalise their currency, it is the best time to create a new regional currency. I strongly believe India, BD, SL, Nepal, Bhutan, Maldives and may be even Myanmar can join in and benefit from it. India and BD being the two bigger economies have to get the ball rolling.


India and Pakistan have negligible trade, the amount of money exchanged in Kartarpur is pocket change and has no real impact. Neither is really interested in trade anyways. India has only allowed medicines to be exported and medical patients to come to India from Pakistan. Pakistan has no major trade with BD, Nepal. Bhutan or SL anyways. So Pakistan is a non-entity in this regional currency scenario.

pakistan will not be part of any regional nexus ether . as i said these south asian currecies did not have any real value in global market . for examle INR is 129th currency in exchange power index against dollar with 1USD =82 INR

yes pakistani currency is doing really very bad but its not means other currencies in south asia worth anything too . if china russia have such initiative then its worth .

making single currency of south asia mean bhoky ko bhoky ne choda dono behosh .

any south asian common currency will be 100 south asian = 1 dollar

 

[Species]

After the collapse of Lanka, it has become clear that China cannot be trusted in economic matters. China left the Lankans to die and India has to step in with 3 Billion in aid.
Right now, entire South Asia is looking to consolidate and stabalise their currency, it is the best time to create a new regional currency. I strongly believe India, BD, SL, Nepal, Bhutan, Maldives and may be even Myanmar can join in and benefit from it. India and BD being the two bigger economies have to get the ball rolling.

Whatever is happening in Sri Lanka and Pakistan, their own policies and incompetencies are more to blame than the so called debt trap.

In Bangladesh's context, economic conservatism and nationalism has always been strong. Even during East Pakistan period, there were demands for issuing a separate currency for East Pakistan.

 

[Thevilone]

Whatever is happening in Sri Lanka and Pakistan, their own policies and incompetencies are more to blame than the so called debt trap.

In Bangladesh's context, economic conservatism and nationalism has always been strong. Even during East Pakistan period, there were demands for issuing a separate currency for East Pakistan.

Of course, who can forget Mujeeb's six point agenda!!

BD and India have a lot in common and both will benefit from promoting trade, with or without currency swap. BD borders with North-East and If NE India develops industrially BD can provide sea-ports for cheaper transportation, in return a certain port-fees or charges can be paid on reular basis. Transporting from NE India to Kolkata by railways is way too expensive.
If NE India starts industrializing, it'll also have a positive impact on BD industries.

 

[El Sidd]

Indo-Bangla relations mirror the US-Canada relations minus the random slaughter at the borders.

Both India and Bangladesh have broken the shackles of the USD.

 

[mb444]

Why don't you simply say 'South Asia barring Af-Pak'?

No ones talking about barring anyone.... its about potential BD and india trading freely by making their currencies easily transferable.

As you mentioned, there are already easy currency exchanges between Taka and INR, the retailers in Kolkata have already started accepting Taka. But common currency is still a pipe dream at the moment.

There are lots of issues that need to be addressed, where will the central bank be located? Who would control the monetary policies? Given the mistrust in this region, I don't see these issues to be resolved any time soon. We already know about SAARC, even BBIN has become a failed initiative (Bhutan has already withdrawn).

There are also geopolitical factors, I personally don't think the major powers would like a common South Asian currency to develop. Even the ASEAN doesn't have any despite having a highly integrated regional economy.

Major powers would not like any new power centres developing, hence would be opposed to it.

South Asia in time will have to come together economically for global relevance. INR can not remain and neither can BDT or any other existing currencies.... a new currency would be needed just like Euro. Its inevitable...

 

[mb444]

pakistan will not be part of any regional nexus ether . as i said these south asian currecies did not have any real value in global market . for examle INR is 129th currency in exchange power index against dollar with 1USD =82 INR

yes pakistani currency is doing really very bad but its not means other currencies in south asia worth anything too . if china russia have such initiative then its worth .

making single currency of south asia mean bhoky ko bhoky ne choda dono behosh .

any south asian common currency will be 100 south asian = 1 dollar

So what? It will ease regional trade, invigorate the economy, create a block that can negotiate with other trading blocks. No one can force anyone to join but those who are willing should compromise and turn down national and religious chauvinism and unite for the common good. None of us can leave our neighbourhood, our only choice is to rise together or spend time pulling each other down.

 

[Imran Khan]

So what? It will ease regional trade, invigorate the economy, create a block that can negotiate with other trading blocks. No one can force anyone to join but those who are willing should compromise and turn down national and religious chauvinism and unite for the common good. None of us can leave our neighbourhood, our only choice is to rise together or spend time pulling each other down.

so what ? ap bhi na bhai

so this worthless currency will be not give any benefits to anyone .it have no strong background like euro .very soon govs will stop using it as its not giving them any thing .govs did not work as you mention join united and common good . govs work on interests .

 

[mb444]

so what ? ap bhi na bhai

so this worthless currency will be not give any benefits to anyone .it have no strong background like euro .very soon govs will stop using it as its not giving them any thing .govs did not work as you mention join united and common good . govs work on interests .

When this currency comes to be it wont be worthless at all.

It will massively increase regional trade, that is good enough reason to have one.

Global currency swap and clearance cost will also reduce and give the currency strength.

As ever countries united is stonger than standing alone.

 

[Thevilone]

When this currency comes to be it wont be worthless at all.

It will massively increase regional trade, that is good enough reason to have one.

Global currency swap and clearance cost will also reduce and give the currency strength.

As ever countries united is stonger than standing alone.

Iran already deals with India in rupees. BD and India having common currency would facilitate Iran-BD trade relations. Russia is also accepting INR but it's hard to say whether it's only temporary due to war or long term.

Rupee settlement to help India trade with Russia, Iran and others: Experts

On Monday, the Reserve Bank of India said it had put in place a mechanism for international trade settlements in Indian rupees (INR) with immediate effect

www.business-standard.com

The currency will not worthless at all. The value of currency is not dependant on countries wealth but STABILITY. If a country's economy is believed to be stable than it's currency is considered worth holding. India is no USA or China, but India's growth has been stable and India's forex reserves are deep. It might not pay-off immediately but in the coming decades as India becomes a global and BD becomes regional superpower, it'll make a huge difference.

 

[Imran Khan]

When this currency comes to be it wont be worthless at all.

It will massively increase regional trade, that is good enough reason to have one.

Global currency swap and clearance cost will also reduce and give the currency strength.

As ever countries united is stonger than standing alone.

yes and usa eu will sit down keep watching right ?