India aces Petro-Rupee model, but dollar is here to stay - know why
In a development widely viewed as a potential death knell for dollar dominance, India has quietly begun purchasing oil, particularly from Russia, using its own currency, the rupee, rather than the US dollar. According to a media report by Investing.com, India has also put in place a mechanism that allows these rupees to be recycled back into its domestic economy.
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